A1M: General Comments, page-526

Respectfully Rx7, but not sure we really care about 60c.

$220m MC currently. 3 years time producing 20 - 30,000t of Cu. Closest comparables on the ASX would mean an MC of $700m - 1.5b at that point of production. Take the lower mid point of $1b MC. Add $80 - 100m dilution for development and plant to the $220m current MC and then you have $300m odd.

So for me, with risk, we have a 3 year timeline for a 3 bagger pay day. I would have thought most of the 3 X SP rise will be in the next 2 rather than 3 years as anticipation and reality grows. And this is EX any Cu price appreciation.

There is risk as we know from a variety of angles, must most of it is to the positive and is clearly asymmetrical currently, bar geo/tech risk.