NPAT just fpr the 2MT will be over $200 mill. We have used conservative PE ratio on that of 10. I think using 20 might be more suitable now with the demand and hype around lithium. So from the 2MT operation if the NPAT is $200mill with PE of 20 we get a valuation of $4billion, divide that by 1.65 billion shares we get a share price of $2.42. That's just from the 2MT operation.
Add in the 5MT and downstream processing with a PE of 20 we could see a market cap of $12billion or more, with 1.65billion shares that equates to a share price of around $7.27. This is a possibility in 3 years.
Ann: MOU for South Korean Downstream Processing Facility, page-26
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