Agree - fortunately there's been some swing free-carries in...

Agree - fortunately there's been some swing free-carries in there. Additionally if someone does there DD now, they can't buy a position I've got without pushing the stock way up. But agree - great value for new comers.

I think it should easily be a $1 stock - but that's because i'm already pre-empting this resource and know it's going to slide way down the scale on a contained ev/t. It'll be down near 2-3ev/t. Which with met work confirmed and permitting already done. is very low.

Doing a FCF model this early (when there's no resource understanding etc met work results would be pretty difficult). but all things considered IMO using RNU is a good proxy. that 550M. If the resource grade/strip/size is comparable - met work on campoona is ball park.

I don't put long term targets ahead because there is so so so many variables. I just look at what current and short term upside is. This resource alone could place it as the largest or minimum top 3 in Australia for graphite. 50mT is enough to get a good FS running for CSPG - too many variables to work out profit margins and the like. First things first - confirm the resource. Then confirm the met. Then we can start benchmarking to mines with PFS/DFS published. ITM should be a 100m MC by then if it delivers a resource of decent size/grade and quality.

SF2TH