Im aware you said gross. But you also said this should trade on a 10x multiple like other companies without illustrating those companies trade on a EV/EBITDA multiples (after expenses and accounting for recoveries and payability).
Glencore for instance trades on an EV/EBITDA multiple of around 6.
There is not a snowball's chance in hell of trading on a 10x multiple of beyond best case gross revenue.
Ann: DRC Cobalt Production Acquisitions Update, page-379
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