I really like this when they are comparing to MP Materials and other peers:
"Our current Veritas valuation (based on the eDFS) forecasts EBITDA of ~US$400mpa in full production from circa 400ktpa BA. Therefore applying similar EBITDA multiples post the Nasdaq listing could see a 4–10x re-rating of the current US$0.7m ABR Mcap in 2022"
The $400m EBITDA they are referring to will be a different figure when the BFS comes out.
ABR Price at posting:
$2.15 Sentiment: Buy Disclosure: Held