Ann: EUR receives grant of new mining licenses doubling footprint, page-115

You don't need to discount it, just go with the market price... but yes it's possible. As @TechSpec00 even alluded to, CRML could issue 100M shares for $US5 per share. But it's important to also be aware the PIPE Investors will have anti-dilution clauses in the contract. We won't ever get to see those contracts unless you're an insider so finding out exactly what's been agreed to get over the line and IPO at Nasdaq would be a fools errand. There are bread crumbs though as SZZL was a publicly listed company, hence when I encouraged to pay attention to SZZL and SZZLW share price. Now that's been replaced by CRML and CRMLW.

All eyes on CRML share price and liquidity from here. In return would dictate EUR company value and also therefore share price.