Those charts actually normalise for dilution over the years. That's why the float price is around 35c at the moment. They are an accurate view of market cap over time (i.e. number of shares is constant).
The BLG SP still has a long way to go and no where near appropriately priced for this stage of its development. The 10 year chart shows only 20% appreciation ( < 2% return per annum). Not much better if you look at increase since float. Most of the time since float has been spent under water.
It is important to note that the Shaws target pricing is really based upon BLG trading at a significant risk adjusted discount given its current commercialisation progress. The FY20E PE is currently 1.75. They compare with (say) AKP and believe if BLG were equivalently priced, it would be double its current price (40c at the time).
It was interesting to note the 1.49m shares currently available for sale were moved up yesterday when it looked like someone might buy them. Is this line a cap? Why sell? If they were my 1.49m, I'd cancel the order. If you need to sell 1.49m shares, is it tactically correct to put them on one line? Perhaps by putting them on the line, initially somewhat out of reach, it is a way to fish for any big buyers who may want to get in.
(20min delay)