Take a look at MMI (Metro) They are in the same space and capped...

Take a look at MMI (Metro)
They are in the same space and capped at $250m building the plant for next year start up.
They want to produce 7m over the first 4 years while MLM will produce approx 1m tons next year and ramp up to their numbers after that. MLM is awaiting the final signature from the Minister and then its all go folks imo.
Even if you cut the numbers by 1/3, MLM is worth approx 5 times the current price as the ramp up takes place.
Both companies have to deal with the wet season, so you can see this is super cheap with all the environmental permits in place and the money to turn it on. Not long now imo. dyor

ps
The minister granted Metro their license on the 29th sept and the market cap has increased some $60m since then.