Suppose that means, back of envelope calcs, since we are at ~25%...

Suppose that means, back of envelope calcs, since we are at ~25% capacity, we'd make $64k/day at the full 2kta rate and thus $14k/d margin, say x 350 =~$5M/yr? Wouldn't be too shabby for starters, but clearly need to scale, reduce cost, and a higher Li price would certainly help too. A linear extrapolation to 10kta would give us $25M/yr, at 15-20 PE = $500M mc - that's starting to look not too shabby.

If costs were to go down by 30% and prices go up by 50% (conservative assumptions, IMO), then we'd get ~$35k/d x4 = $140k/d costs, revenue ~$100k/d x 4 = $400k/d, = $260k/d margin = cash machine = $91M, say $100M/yr, at 15PE = $1.5B mc = SP $1, allowing for only 10% dilution,

Assuming Rob's numbers are correct (and my machinations) I reckon this presents is a real base to expect a solid base SP of around $1 as soon as AGY can reliably achieve a 2kta production rate. IMO DYOR.