Ann: Australian Government Conditionally Approves A$185m Loan, page-134

Hi 2Blueeyes;

I understand your sentiment to some degree.
was just talking to a mate the other day about this very thing.

However;
I like to compare market caps to similar companies to get a gage of where it should/shouldn't be.

Compare to Syrah (SYR) for instance;
they have a market cap of approx. $900m (2 x market cap of RNU)
they are in production, have a binding offtake with Tesla for x amount of PSG and have an enormous and quality graphite resource. (worth crunching some numbers yourself)

RNU;
has a large resource (although smaller in size and grade than SYR's) which is the second largest outside of Africa.
have just received an enormous conditional loan from the AU government
have MOU's signed with POSCO etc.
have refined their processing capabilities and PSG recoveries ect ect to deliver a better NPV ect ect

But the large difference is location;

SYR is based in Mozambique. Type 'Mozambique - Al shabaab or Boko Haram' into google and see what comes up.

RNU is located in South Australia where the most dangerous group are Crow supporters after getting flogged by an undermanned Port Adelaide outfit.

I'm not sure about your risk apatite, but I cannot bring myself to investing in a third world country like Mozambique which is fraught with corruption, instability and terror cells to name a few.

So in terms of market cap;
I personally can see RNU having a $1 billion cap within a year or so if relevant environmental and planning approvals are accepted, offtakes are signed and graphite and PSG continue with increasing demand and shortages ect. All of which i am very confident of. This is all in my opinion of course and I implore you to crunch some of your numbers ect.

Cheers