They are still negotiating on the acquisition of full Australian...

They are still negotiating on the acquisition of full Australian profits.

I read the U.S plant to be initially 150k tpa ramping up to 250k tpa.

If correct once NMP is added to salt slag, we'd have $15-$20m ebitda from Australia, plus up to $150m from the U.S with SPL and silica to come. Potential revenue from existing sources, without Canadian or European expansion is quite feasibly over $200m p.a. for a long time to come, possibly 'in perpetuity' as MHM like to say.

Believe it or not, that would justify a market cap of around $2b.

I believe the potential of this company is about to be understood by a lot bigger section of the market, here and in the U.S