Ann: Globally significant MRE of 59MT at Adina Lithium Project, page-902

this is the discount opportunity.
You get to buy Canadian assets, that ultimately deliver to a producer, the same $$$ in spod concentrate.
And any vertical integrated predator will have to pay up on that basis, or we will continue to develop ourselves.

Money is money.
Fast forward 5+ years - Give me a 10% div yield in AUS or in CAN.
Which lifts the MC, until the yield is reduced to whatever level.
But the multiple the MC will climb much further, when the entry discount is greater in CAN>

Two cows milk the same pale of milk and sold equally.
The cow costs you half the price today in one country, to the other.
As an investor, you get a certain return on those cows you can afford to buy.
When that milk is sold, it returns a dividend to the owner.
Others see that one farmer is getting 2x the dividend on his capital.
More people buy shares in that farm, rising the cost of entry until the dividend yields are the same.