I agree with what you said except for the lofty valuation...

I agree with what you said except for the lofty valuation sentiment.

INR another lithium hopeful be it having only 2B shares on issue has a market cap of 750M.
They have but one project as a primary focus.
They have no permit, cannot commence construction until they do so and are hopeful to be producing by 2026 pending that everything is peachy.
Based on my own past experience with this stock its unlikely to be 2026 when production commences, purely based on BLM disclosure of build time varying from 2 years per investor preso's to 4 years under the scoping study of BLM. My take on this was that because of disclaimers it has allowed them to bend the timeframe to appear more favorable. Under a 4 year timeframe it will likely be 2028 for first production of carbonate, again that doesnt include if all else goes well.

I personally think a company that has multiple announcements in the pipeline has started production of sc6 and will later this year be assessing carbonate is far more valuable than a non-producer. So pending a 750M market cap with only basically an asset to dig out of the ground at "some point" i see SYAs value at 2B with a steady rate of expected cashflow to be quite fair.

Pending we reach close to targeted output of 226k
@ 50% being at a conservative $3000 price p/t your looking at 340M in revenue a year. This will be used to further grow our resource, output or opt into more specialised chemicals carb/hydroxide.

After 5/6 years if all goes to plan we should have generated our market cap in turnover. Which is a far cry from the business that is a little under half our market cap which may have only just started production.