My apologies - haven't looked at ORE for quite some time and it escaped my mind. Must say it did seem too good to be true.
Revising my calculations taking into account the 66.5% ownership of the Olaroz project at 42,500tpa.
Revenue: ~$385mln Profit: ~$278mln Market cap at 12x PE: $3.3bln SP Target: $12
This is certainly less compelling to what I originally posted yet there is still plenty of upside. Don't forget this analysis is ignoring Advantage Lithium JV, lithium hydroxide plant, and improved profit margins from increased scale.
