I have adjusted my excel spreadsheet by tightening up some assumptions based on this report.
Based on these revisions, my estimate of fair value went up 36%, to $9.02.
This is based off very conservative assumptions, including a PE of 12, missing productions targets by 20%, slow (2 years) stage 2 expansion and lithium prices reducing to 11k.
On more bullish (some might say more realistic) assumptions, my spreadsheet's estimate of fair value is $15.94.
Why would anyone buy a Tesla when they could buy ORE shares instead, and then by two Tesla's later?
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