Ann: 2021 Annual General Meeting Presentation, page-31

I don't know how you get two light bulbs for such dodgy analysis:

• Comparing SP is meaningless - the chart only displays it as the basis for the market cap shown
• Liontown's production is scheduled for Q2 2024, not maybe "3 years at least"
• PLS, ORE and LTR all have deposits and planned production which are MULTIPLES of CXO. CXO is planning 197ktpa. PLS has plans to grow to 500ktpa and then 1mtpa. LTR is planning 511ktpa increasing to 658ktpa. ORE has two mines producing and two new large projects under development. Plus they all have plans for downstream chemicals production which are more advanced than Core's.
• CXO would have to dig up the whole of the NT to match the resource of VUL (which is hard to compare, since it isn't even spod) or LTR

Yes, Core's SP and MC will grow as it moves into production and proves up more resource... but the implication that CXO can match the market cap, let alone the numerical share price, of those other companies is just misleading.

I hold all of the above - and CXO is my largest holding. I don't mind a bit of enthusiasm but let's stick to the facts.

Figaro