The MC of AJM has been driving me nuts for a while especially...

The MC of AJM has been driving me nuts for a while especially when you compare to some other Lithium players:
AVZ: 100 M
LTR:150M
GXY:466M
AJM:140M - For a genuine producer and exporter
AGY:80M
PLS: 700M may be more

And then we have KDR being paid over 800m for half the resource and MIN...dont remember the number by Albemarle..

Anyone with any basic knowledge can give us some insight on what should be the real MC of AJM, considering the current debt and consistent cashflow in the last few months?

I understand factors such as loan default and ramp-up are all factored in the SP, but what should be the MC in normal circumstances. I mean the current MC is $153...so what is the 22-year resource valued at ...zero??

and what about the investment in the mine which is easily over $200 m...

Any information/discussion welcome ..Thank you in advance

Arjay