So what are we worth if we get into the simplest market of SMR replacement. Let's say we grab 5% of that 100m tonne market, so 5 million tonnes at say a an average $2,000/tonne, so $10b at 5% royalty. $500m per year, @10x=MC of $5b. A royalty stream would attract a higher multiple of course.
Doesn't seem too ambitious especially when steel making is also considered low hanging fruit.
Bit of a rushed job; have I got any zeros in the wrong place? Risk reward is looking very good now.
Ann: CDP Achieves Over 36 Hours Of Continuous Hot Operation, page-70
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