Ann: Leo Lithium Provides Project Update, page-109

What I love is all the noise, and no change in cold hard facts.

PLS conservative valuation ~10B or A$15,000 per ton of "current production capacity", assuming nameplate 680,000t production.

LLL at 500,000 tpa in say mid 2025, based on same A$15,000 per production ton valuation = $7B market cap × ~30% ownership share = ~ 2.2B or $1.80 per share. Less any further africian discount.

It's still a compelling investment from here with around 200% upside over next 12 months. Potentially alot more if price forcast surge back over 2k ton.