Funny you ask, I have been thinking about Tony's skills in raising capital for some time now and whether he is better than others incl me hahaha remember my personal target is $100M (I said that as target because that's what I would aim for if in Tony's shoes) so if Tony somehow manages to increase his $40M alluded target, and gets passed mine and even double it (!) wow then very much hats off to him.
Perhaps a more realistic financing is PIPE + loan, speaking from experience. Although I wouldn't be surprised since the "dark horse" here as I keep saying I'm sure I'm not the only one continually blindsided are the Saudis. They have very deep, they want they buy without hesitation type of pockets.
To answer your question directly though, I hate to say but have to say "it depends". We have an intrinsic valuation and per forma market capitalisation presented to SEC but the market will decide that for us. On ASX I at times multiply cash by how many years vesting for a simplified quick and sharp mc approximate calculation to acquire eg. last year for four years vesting period to 2026 with cash from cap raise, at 50c per share was a screaming "buy". But this is just one of many ways of how to value a stock before acquisition. On Nasdaq, this could be as high as x16 if not more.
Each fund have their own risk/reward calculations and dependent on length of vesting period.
NOTE: This is not financial advice. This post is merely my giving a level of transparency to the calculations I've used personally, when trying to quantify a market cap quickly based on a cap raise of this specific nature (Wolfsberg project assets).
On Nasdaq, unlike ASX (a small fry really) the market definitely rules and dictates what companies are worth. Confidence is name of the game as I'm sure you're well aware. Otherwise, there's no point of listing... much why Elon Musk removed Twitter from the market.
My market cap forecast for CRML, no matter the capital raised is $US1.6-$1.8B within 12 months of IPO. The higher the PIPE the higher the confidence for that type of valuation.
Hope this helps.
EUR Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
