Almost but great guess on "the other side". Reminder, the "market" price companies on the future not the past. Instos, especially with managed funds completes own due diligence and hire experts to provide pro forma valuation of a single project, in this instance Prairie Lithium project then weigh risk/reward analysis based on progress and forecast. The pilot plant being ready is but one of uncertainties removed from the list. Moving straight to construction of a commercial plant is a huge tick of approval, then waiting validation from PFS. As what I've previously mentioned, it was wiser to acquire before release of PFS instead of after on this occasion for Prairie Lithium project, with confidence level that PFS is promised and "will" be released to market before Christmas. It's not "next few months" but next 30 days give or take, including demo of pilot plant where investors and partners can see in person - contact the company to register interest or otherwise ask at Webinar. It's also quite heartening to see that the PR department released materials timely, meaning they are functioning well, including the recent video. Going back to pro forma enterprise valuation... let's just say E3 is at over 200M market cap right now and released pilot plant a couple of months earlier than AZL but AZL is closer to commercialisation than E3.
So it's an easy determination that the company's acquired Canadian asset is progressing well and significantly undervalued, based on pro forma enterprise valuation. No matter how you cut and criticise it, it's underpriced. It became obvious at 1.4-1.5c days that the stock was oversold at less than $50M market cap. A quick comparison is with VUL, LKE, E3... VUL in particular, capex is 10x more and commercialisation 2026/2027 and in NIMBY Europe. Prairie Lithium is 2025 in Saskatchewan- where miners know value when they see it and have access to it.
(20min delay)