Ann: Siviour Battery Anode Material Study Results, page-435

I don't hold RNU. Just had a look at it to see why it tanked. In short: I think the Fastmarkets forecast numbers are up to about double current spot prices with supply exceeding demand till 2028(figure 3).
Not sure how that works out. Rising prices with supply exceeding demand for PSG. Makes the NPV questionable. Maybe read the announcement in detail and understand what feeds into the NPV. Perhaps some scepticism about valuation. Just my thoughts. I don't hold. Market cap looks high compared to questionable NPV in my view. Good luck. Maybe PSG prices will rocket in future and all turns out rosy.