7.5c SP -> $1.11 SP Target (Largest Potash Deposit in West-Europe) $30M MC, page-6

I tend to agree mate, the beauty of the 4 project online-ing chain is that the value of those will be priced into the SP upon previous projects success;

- Project 1: Makes it through the process to production (Derisks management capabilities, how they navigate regulatory bodies, how they navigate mine construction and production)

- Project 2-4: Should receive their NPV represented as a higher multiple given this derisking, perhaps to x0.15 instead of x0.05. Aka, a hundred+ million to the MC on top of the initial SP rerate. (20c worth to the SP)

I think that would add to the cenkos $1.11 target to form $1.30 target, with the second projects catalysts and FCF from the first project adding to the price target and beyond.