External News & Commentary, page-680

Rodney Hooper who does youtube videos in the lithium space with Howard Klein (Rock stock channel) did an independent valuation of INR a while ago. They priced INR at $1 in 2024 as fair market value. I think from here an O/T pending on the parties involved would see us as high as mid 70s pending on again how many are involved and what the agreement is.

From there after O/T it will likely trek sideways or slightly down as profit takers reduce holdings and news will likely be limited for a while after that. We may even see the rarity that is a CR for project funding over that time period, somewhere from after O/T until end of 2021 though I think this will be unlikely until after permitting is confirmed (but I could be wrong).

After permitting we will likely see a small uplift to maybe 80/90c but I dont foresee a dollar in the near term as that is extremely overvalued IMO.

Again from 90c/80c after a positive permit announcement price will trek down during construction of the mine 1 to 2 years on the back of limited news and further profit taking.

Once the project is complete, if its on budget and on time I foresee a push to above $1 after first production/shipment. The push will be driven by the fact management delivered on time, on budget and the asset is now income producing for years to come.

Thats why I think people are crazy day trading this stock. Offtake due any moment now and if your not holding, you may miss out on a decent leg up. An sure the market will likely see a trough in the time from now until first production, but if dividends do start to flow would be brilliant!

All the above IMO.