The number I'd be playing with would be based on a DSO... in...

The number I'd be playing with would be based on a DSO... in ground value is over egging it somewhat, without any consideration for capex or opex.

Let's say we can dig for $10/tn (on the high side) and sell for $50/tn (depending on the mica-nickel story, and the REE types and general resource spread and nature). Could be $50-100+ but let's play fair

26Mt resource (0.6% nickel, etc etc - should be higher since June's results, and already shown to be easily purified as per first step of beneficiation),

26M x 40 = approx $1bn asset value
Now, you'd likely not hit all of that tonnage so perhaps halve the mineable resource, whilst remembering (as above) that there's the potential for great upside too.

If this can be set up with very low capex then that's the numbers you're talking, and you could see a $100-200m market cap as they'd be printing money