Don't sweat it, page-72

I'm grateful we ended up slightly. But we really should now be within the 34-40c zone on fundamental valuation of the operating mine with current mine life and cash held. I'm sure we all have our own valuations, but really, either by DCF or comparative analysis, we the company is undervalued by 25-45% (in my opinion)...

...maybe if the geology team pick up a few random nuggets and put out an announcement, the share price will go to >$0.80...looking at you, DGO.

Some have commented on the company needing to show extension of mine life - there are multiple first order resource expansion (West 45, Waterloo, updated Far West, Liontown East and Liontown) and discovery opportunities (across the region from near-mine to different commodities that can still go through the existing plant). There are likely other local and regional feed sources (some significant) held by third parties that the company could deal on if they wanted to or needed to. In reality, between the current resource expansion areas listed above, there's likely to be enough ore to both reach full mill capacity and double existing mine life - this can be as achieved as rapidly as needed by getting the rigs on to it.

Scarecrow, Snowleopard, and the other combined IP-geology-known mineralisation-structural targets are what will add further decades at the current throughput. My only concern then is do they double the mill infrastructure and build a road directly from Liontown, or set up a standalone operation to the east to cater for the Liontown-Waterloo district.

So, I am pretty the market isnt fairly, efficiently or effectively valuing RVR, but I guess now that the company is in production, we have a good starting point from which the value of the company should rapidly grow.