Here's some quick maths for potential future market caps...Bear...

Here's some quick maths for potential future market caps...

Bear case: Copper is $3/lb... ASIC is around $2.50/lb/
= ~$30m AUD/yr... which compared to the current market cap of $76m, it's a decent return.

Bull case: Copper is $4.50/lb... ASIC is $2.00/lb
= ~$153m AUD/yr.... which is double the current market cap of $76m.

A reasonable case: ASIC is $2.25lb.... Copper is $3.80/lb
= $95m AUD/yr... Which is 25% higher than our market cap of $76m.

The average miner PE is ~11.

If we apply this to the;
Bear case: MC = $330m (334% ROI)
Bull case: MC = $1,683m (2114% ROI)
Reasonable case: MC = $1,045 (1275% ROI)

Even if we halve the PE to 5.5...
Bear case: MC = $165m (117% ROI)
Bull case: MC = $841.5m (1007% ROI)
Reasonable case: MC = $522.5m (587% ROI)

For a 2 year hold, a buy in at the current share price of 14c, IMO is almost risk free, with significant upside.