Is that REALLY the best you can do? Among my friends, the...

Is that REALLY the best you can do? Among my friends, the immediate response would have been, "Your wife's."

By way of a civil response, I'm not predicting $2B profits in two years. I anticipate the profit will be slightly larger, once ramp-up is completed, but figure we're six to nine months from commissioning and most ramp-ups take a good two years, so I figure it's more like three years, to be conservative.

Assuming we're not massively diluted, and I suspect there may be some dilution, but not much, the $2B annual profit works-out to almost exactly $1 per share, as cited in my post that you are sophomorically trying to insult. Are you still with me, mate? Clearly, the simple math didn't ring a bell the first time.

From there, a profitable LI firm SHOULD be trading in the 8-10 PE range, hence the $8 to $10 SP. You do still follow? As with most of my assumptions, I've kept it conservative; SQM currently trades at 12.5x and ALB trades at more than 33x, but we're a few years from flying at the same altitude as they are.

Finally, most mining stocks that are profitable and aren't debt-laden typically pay dividends at a rate of 20% to 30% of either profit or free cash flow. My chosen 25% happens to be in the middle of that range, and, yes, 25% of $1/share yields $0.25 per share.

It is always better to stay silent, and allow others to assume you are dense, than to open your mouth, and remove all doubt.