Ann: Quarterly Activities Report - June 2023, page-23

I don't disagree with you and I value your views over the facts of Neometals, and to be honest I'm rethinking of this type of company with projects developing are quite rare on ASX and are extremely difficult for valuation.

I definitely made the wrong assumption while it was close to $2 mark, but I kept thinking how NMT shall be valued. And it still puzzles me today.

A company with great projects under way have a market cap of 265M isn't it insane. But how to value it? When looking at EPS, that's going to be 2 years+.

However talking about finances, I don't expect a heavy dilutions because NMT has no debt. It's not under the great pressure of interest repayments.
And there's potential some streams where income may flow:
50% of Primobious income either PO from MB, or the sales of black mass.
Sales of other mined material or recovery... (V and Ti)

All in all, PO from MB would be the silver bullet for now to my own opinion.