If the market values the business on a metric of 10x revenue, or...

If the market values the business on a metric of 10x revenue, or something similar that yields the same result, then yes. It's feasible, but I can't say it would definitely happen.

Obviously you need to factor in further shares being issued to fund building it, which seems almost certain to happen. The challenge is how many, as we don't know what the mix will be between offtake and raising.

So if the market cap reaches that level, it will be with more shares outstanding than presently, which reduces that 20c target. If there another 3bn shares issued to fund P1, that would be a price target of about 12c for a $900m MC.

@R08 $2500 long term is what I have guessed at as well, but it is a stab in the dark with all the changes in the feasibility study since PFS. Best to wait for the results I think.

Cheers