Share Price is only part of the equation with respect to...

Share Price is only part of the equation with respect to comparing “progress” of companies … market capitalisation is, for me anyway, more relevant than share price.

If I was to spend say $20k on company A or company B where the SP of A is 5 times greater than B naturally I end up with 5 times fewer shares if I buy company A. But the number of shares I hold and the entry ticket price for those shares is irrelevant if company A has a MC far greater than what it “should have” for its state of development progress when I bought than say the MC of company B. That would mean that I’d see likely greater future growth in my asset value in company B than A, even though the SP of B might not ever match that of company A (which would be more likely again if the SOI for company B were more than those for company A).

So for me it’s less about what is the SP and more about what is the MC compared to what I think it should be for current stage of development of that company’s assets plus obviously consideration for how much further MC growth could exist.

For me, LTR has been very very good and for me it shows plenty more upside yet:
- KV DFS out soon;
- Buldania yet to be drilled (the sleeping giant potential which may well be a company maker in its own right);
- MI6 spin off just about to launch (and thanks BOD for the 1:11 free shares for holders - for me that pays for the original LTR investment by itself);
- 100% ownership of the assets;
- Very stable mining jurisdiction;
- Mine development now likely to happen right at the sweet spot of the lithium demand vs supply curve with spod prices already climbing fast;
- very very capable and craftwise BOD;
- tight registry already and only tightening with larger entity accumulation underway it seems;
- awesome group of well knowing SH right here on HC happy to share the news and understandings.

So will LTR SP be at the same level as VUL in 12 months? I doubt it but that’s not the relevant question - nor is it really relevant if the rate of climb will match. For me it’s already just about a 30 bagger and I’m not seeing reason for me to bail out of the ride just yet. Likely more relevant a question will be how many of the other Li entities will make it to the ASX200 to join (I suspect) LTR in the very near future vs how many will be consumed along the way?