Hi @PARdonthepun welcome aboard the ARU train.IMO an excellent...

Hi @PARdonthepun welcome aboard the ARU train.

IMO an excellent entry point for the path ARU is on. When one can buy at below what a billionaire bought in at........ say no more.
If you are talking small change holding and not make or break to you, then not much more research needed, but should ride it all the way to production (and beyond IMHO)
Lots of HC folk have had a go at so-called valuation/MC estimates of ARU following the DFS and DFS Mk2.
I mentioned in a Jan post https://hotcopper.com.au/posts/65513161/single that probably in about 2030 ARU when production has stabilised (and hopefully NdPr demand has built considerably as predicted by metal specialists/analysts) as well as NdPr oxide prices are at levels envisaged in DFS Mk2; then I can easily see a MC of $A5.0bil with a typical x10 P/EBITDA. Don't forget that ARU has SOIssue of 2.3bil and will likely have near enough 2.7-3.0bil by 2026/7, so I can see a SP of $1.60 by 2030.
Again I'm a realist, but I know there are others out there that will say that ANY PRICE IS POSSIBLE just look at the lithium space. Yes if geo-politics goes pear-shaped at around the time ARU are in production and the NdPr price hits eg $US200+ (thus a profit margin of $US150x 4.4milKgs= $US660mil =$A1.0 bil ) so yes could easily be a $10 bil MC at that point (brief as it might be)
All speculation and just in IMHO as a LT large H (2011) and a believer.

All IMVHO, DYOR (cause I have), GLTA(patient)LTH "Build it they (even Musk) will come for more"