Demonstration plant opening this Thursday 7th, page-8

I build my own, it starts at NPV and i work back on micro/macro factors such as margin, financing environment, management capability, demand, sovereignty etc then I factor general market sentiment over three six twelve month horizons pre and post construction. I add weighting to BFS DFS and final decision assumptive success into my estimate to build into the model. it's worked for me with OZL FMG NCM. SBM. it's more convoluted than presented here, I started this "personal model" with the old Oxiana now OZL business. I feel my risk discount is conservative which means the business could overshoot on my price target if they have more bullish risk profile. this keeps me in a stock and grounded. in 23 years of investing, I have never been more bullish and confident in a business than I am in COB. (Young investors can look at Joe K and follow him for the next 25 years as he moves into other companies and boards, he is the real deal).I've been invested since 2018 and the analysis I use enabled me to buy when many thought the business was going to zero during legal war with the now ARR. this works best for me as I am very average at TA. hope this helps, it's self developed, I am not a CFA, DYOR.