Ann: Continued Ramp Up In Production at Kanmantoo, page-20

HIO, "Based on the 2.7 cps case and a PE of 5 we should see a SP of around 13cents. Given a more likely doubling of that in years 3 and 4, the SP should then be 26cents and this would improve with a PE of say 10 to 52cents once mine longevity is established. The further upside is still there with probable Cu price increases. " I think that is feasible. Like that you show the PE expanding. In a copper bull and a company with high growth of sales and profit, PEs will not be low for long. Using Southern Copper as an example rarely in last 14 years has it been below 10 PE, yet it is much lower growth than HGO is, https://www.macrotrends.net/stocks/charts/SCCO/southern-copper/pe-ratio

I will add one thing, The Deeps. Chances are it is of the same grade roughly as the original pit ore, faulted down portion of that body. If the drill bit agrees, that will expand the PE way before it is mined. Cheers