The reason other companies have gone up massively is because of the expectation of revenue growth.
"We are going to do x,y,z and add massive value"
RAN is already derisked because they have a production system, and now two plants. They have revenue, but not yet profit. I *think* there is a good chance they will become profitable in 2022 - so yes SP should be going up. They landed a big deal and announced to the market a solid revenue boost - SP went up.
I'd like to see a PLAN from management something like "We are going to pursue more large business orders for our Indonesia plant and increase volume by XX%, and develop more business relationships with Australian customers to being them on board over 2022 and 2023. Break even is expected later in 2022 freeing up cash for further investment in capacity at both plants."
There is still risk - they may not land the extra business (or all of it) - but investors can then see what the company is hoping to do
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Ann: Australian Manufacturing Operation Commences Production, page-56
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