General Discussions, page-57

this is not a $1 stock at all. Maybe after 2026 if things continue on track well, but not in the next 3 years, no chance. That’s a 1.7bil MC company (Or higher with option conversions and further cap raising).. based on a project with a 700mil NPV... even with the side projects they’re too immature to substantively add to enterprise value until they are further explored, confirmed, scoping study’s/PFS/DFS/enviro/funding etc... that can be easily 3+ Years before works commence on any non graphite projects.. we’re over 12 months(closer to 2 years) on from DFS and MC is at 20% of NPV.. so the non graphite opportunities have very little relevance to current EV.

if you disagree then find me a company that’s trading at double their commercial project’s NPV prior to production... they don’t exist. Without De-risking and project economics/feasibility studies completed resources are worth barely cents on the dollar in the ground, So I firmly stand by saying $1 is a dream..

more realistically I think once binding offtakes are finalised, fair value SP is closer to .15c, once financing confirmed, 20-25, until production is confirmed where SP could be around the 30-40c range.. (by mid-late 23)
that said, if the DFS expansion study feasibly increases scale of the project by a significant margin, and additional offtake/financing can be secured then this can markedly impact EV and fair value SP estimates.

I do believe that RNU is trading a little below EV given the substabtial de-risking, favourable project economics and progression towards commercialisation.. I think fair value SP is closer to .11-.12c.. however a good point was raised... trade analysis and market sentiment can severely impact SP in the medium term, purely by virtue of have had a long slow pull back, it can continue trend past fair value befire bouncing back.
in the .08-.10 range is accumulation territory for me.