If it holds say $12 then fully diluted the book value of EUR...

If it holds say $12 then fully diluted the book value of EUR would be AUD 73c.
I doubt it will trade at or above book value for a while because the ASX has been extremely sceptical of this the whole way through. But the listing of CRML should do a lot to ease that scepticism.
I fully expected it to be trading north of 30c a long time ago in anticipation of this listing, but instead it went nowhere really.
Once listed though the gap between EUR share price and book value will have to shrink and eventually it should trade above it recognising the value of other assets held.
The question is what will CRML do over time.
I can't see this attracting a premium over say Piedmont or Ioneer or other similar near term producers though.