I have a personal fair value for AW1 of 50c given the most...

I have a personal fair value for AW1 of 50c given the most recent BAY on TSXV closing price and market cap, if you ignore that BAY is free carried for their 20% share of Storm project. This is done by comparing the marlet caps of the two companies and their respective shares of the Storm project. If you take a discount for the fact that AW1 is not free carried and BAY is, then probably AW1 should easily be worth 45c given where BAY on TSXV is trading. Hence at 30c current price for AW1, I would expect an additional 50% re-rate to catch up with BAY, and that gives some safety margin (value support for the stock) for investment relative to BAY imo. Another way to look at is that if BAY ends up (for example) 5x from here then you would expect AW1 to 7.5x from here when Storm project is ultimately sold (i.e. a 50% greater end return).