LTR is currently about 9x our MC. Their resource is at least 10x ours, so relatively speaking, until we get positive news our SP and MC sounds about right. Question is, what then would be fair value after resource upgrades, upgraded DFS, MMP approval and finance? Treble our current figures surely, with some discount for any new CR. 2.5x by year's end, so about 10c SP and $100M MC? Sounds good from where we are now.
Lithium Outlook: Bottoming Prices Signal a Bullish Future, page-4
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