Ann: Cape Flattery Silica Sand Project Update, page-7

we have been ultra conservative on product pricing, even lower than what DRX used. So there is upside from the $A 37m pa base case.
They have to be somewhat conservative for ASX, regarding a base case with established markets.
You have to think, if an end consumer is willing to pay higher for the refined product, Mitz is going to do all that project benefit back in japan i would say.

So using a conservative base case lower spec with higher FE impurity, is the simplest apples with apples that you would think ASX would approve of them presenting. Its up to speculators, and the company alike, to press the case for the metrics of the implications of spending the additional 25m capex to produce a higher priced product.

But yes, if and when they reach a 200m pa profit, would command a high price tag for the stock.
And imo the word Billion starts the conversation. I mean, in 5 years cash flow and you have that, less tax considerations of course. But then they would invest that cash into growth, and other top tier assets. So, the market would look further than the 22 year life, but how the cash is being used to generate more value.

At this point, it is up to us speculators, to work out the probability of them taking one step forward after another to get there.(or at least stumble our way to copy paste DRX) And when they get certain milestones reached, the big boys will move in, say when we are over 100m mc, and think this is suitably de-risked by the market to continue to grow, then put their clients funds into it, who want secure growth, not the seedling speculation that we are presently. That will push us onwards and upwards.
We need all the approvals in place, and the debt / finance in hand, offtakes etc to de-risk this for deep deeper pockets to pull the trigger. Its the same with any stock. But just look at DRX 60m mc, and a year or so ahead of us. Would think that come financing, we will get some deeper pockets taking an interest, as its show time thereafter. For now, we speculate that we will follow in DRX footsteps, and rise beyond ultimately to a mega cash cow.

Keep it simple, minimize the complexity of what can go wrong. And bet accordingly.

Refer ann 10 Nov 2021