Yeah I used to be right into those peer comparisons but I think they're mostly red-herrings because they simply don't take into consideration all the nuances between projects. For example, what if one project is near power, and one is not? Same for water? What if one brine project is reliant on a booming domestic market hungry for feedstock, and one is planning on shipping its product to overseas buyers under an offtake? And on and on it goes.
I remember tables floating around which showed that if GLN was valued on the same EV/LCE basis as say the WA hard rock producers, the share price would be $10 or $15 or $20 or whatever... meanwhile it was trading somewhere in the $1's. Unfortunately that sort of disconnect says less about the 'value' of Galan and more about the faults of trying to compare peers in such a basic way.
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