Ann: 2019 Annual Report to shareholders, page-5

On the analysis here, IMO I envisage a market cap in the $700M to $1B ballpark one year into production.

https://hotcopper.com.au/posts/40633103/single

That's on the basis of the current Scoping Study though. We are waiting for a resource upgrade and an optimised scoping study. I expect increased production capacity and potentially higher margins from a higher-grade product produced in Australia (they are looking at wet-processing in Australia as part of the optimised study).


Market cap and valuations are based on Earnings Per Share not Dividend per Share. P/E is the ratio between share price and earnings per share.

IMO the market sentiment associated with the company paying dividends could drive a higher P/E and hence a higher share price.

If they decide to pay dividends it should be sustainable. They need to keep enough earnings in the company to fund growth.