I looked back at the research report prepared by K1 capital...

I looked back at the research report prepared by K1 capital where they estimate EXR's value to be between $148m-$670m based on info known at 15 April 2021. Despite share price deterioration after the capital raise, it seems like no other material metrics have worsened since the report. We closed trading yesterday at $111m so its looking like a very strong buy.

I'm not experienced with CBM valuations but they talk about in the valuation discussion that transactions occur before the resource is fully defined resulting in less $$ and that the larger transactions (such as QGC) happened when relevant resource prices were very good. Gas price seems really good right now, hopefully it remains or comes back by 2024/2025.