Based on my rough numbers (which could be wrong!), the 125...

Based on my rough numbers (which could be wrong!), the 125 tonnes that they aim to be producing from the pilot plant at the end of the year will generate $31m in revenue and I assume about half of that is profit after costs of manufacturing. That on its own values the company at around $80-$100m. You then have the value of Titan ($700 NPV), the potential quick expansion up to 100 tonnes per annum in the next 12-24 months, etc., making up the rest of the market cap value. In short, I see there being potential for multiple bags over the next year.

This isn’t financial advice, DYOR, etc.