CNR IPO a 5 bagger

A 5 bagger is very possible,
Cannon Resources has a valuation of just $15m Look at the profits in the Toll Case which is very likely to go ahead imo,.

Demand for nickel has the potential to light a fire under Cannon Resources..
Nickel is a key component for EVs cathodes, and the world’s no. 1 miner sees nickel demand growing faster than anticipated due to a spike in the adoption of electric vehicles (EVs), as governments commit to decarbonizing their economies and set end dates for combustion engine sales. “We believe that over 2020 to 2030, overall nickel demand will grow at 5% compound annual growth rate, and that nickel-in-battery demand will grow at a rate of 21% CAGR,” BHP Nickel West president Eddy Haegel told the annual Diggers and Dealers conference on Tuesday.
BHP is scrambling to increase its nickel supply to match rapidly increasing demand, including a recent deal with Tesla worth more than $1 billion a year. “We have positioned ourselves to become a globally significant supplier to the battery sector and laying the foundations to create a sustainable business of scale,” Haegel said.
Australia and WA in particular has become the favoured supplier for battery raw materials given the country’s reliable mining industry and responsible production practices. Problem for BHP and other miners is near term supply. Apart from Canadian TOs the latest proposal is to complete exploration at the Cliffs underground mine and extend its productive life again. This requires the development of a new roadway to connect the northern and southern mining areas at depth, with possible completion late this year.
Cannon's Fisher is a relatively small 2.9 MT @ 1.7% Ni JORC complaint high grade resource. It is straight forward to mine and could be brought into production very quickly.
The opportunity here imo is for Cannon to do a deal for Fisher as a stop gap measure for one of the big Nickel players. This would be toll milling because it is quicker. As shown below the potential profits are huge relative to the MC of Cannon (just $15m) and will only get better as the nickel price continues to climb.