I think it's all about sentiment. Right now, if an offer came in...

I think it's all about sentiment. Right now, if an offer came in at 2x the current share price, or even that A$107 million "stink bid" from yesteryear (for 3x current share price), likely most everyone holding shares of MLL would gladly give them up ASAP for that. Too much pain and depression in recent times makes everyone wanna abandon ship... dangle that kinda "life line" to someone and it's hard to refuse!

However, if say we do finally get that mining license (99% of the way there, currently!) and say a legit binding offtake/joint venture deal finally comes through, then the game changes drastically... The farther along this project gets to production, the more of a re-rating shareholders will feel like they deserve.

And if/when sentiment towards lithium comes back in full force again (at this rate it will have to b/c demand for EVs + grid storage will be there in the future and right now very few juniors are able to get funding to advance their projects), probably not far-fetched for expectations of share price to trade at/near NPV... say A$1 billion (assuming optimistic DFS results for 2 Mtpa operations and further successful drilling for resource/reserve growth)... or even above that b/c of prospective land package and possibility for major expansion (e.g., 4 Mtpa) to take place... That's the beauty of having in possession a tier 1 asset, which NOT many lithium companies can make the same claim to having.

Sky's the limit, and although from where we are currently sitting at (sub A$40 million market cap) it may look like a daunting, impossible journey, like I mentioned last time, don't forget that shares of the company formerly known as Birimian (BGS) once ran up from low 20c to 80c range in just a few months time... on NOTHING more than hype alone (don't forget the revised PFS 2.0 didn't get published until July of the following year... and back then, nobody had a clue this resource would someday grow to over 100 Mt).

Still we somehow hit 80c/share...

It's all about sentiment... a lot can happen in a very short period of time.

Not saying it's going to be easy by any means, but we've already come this far and when you've got strong fundamentals in place (100 Mt resource + high-grade + near-surface + optimizing the processing/metallurgy + 99% of a mining license), you've at least got a fighter's chance...

GLTAH.