From memory, the EBITDA per Annum in the DFS was 225m. So using say (conservative) 5-1 EBITDA ratio, that would give it 1.1B MC. So assuming no dilution, a SP of $7.3 is certainly achievable long term once achieving that EBITDA. Massive upside, and especially if REE increase over time. Short term will depend on the timeline to production, but I would expect to get back to the initial IPO fairly quickly now that it has been de-risked from a regulatory perspective (IMO)
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