DYOR. Opinions only. Not advice. Until we get DFS it is very...

DYOR. Opinions only. Not advice.

Until we get DFS it is very speculative.

For PFS, MEP share of NPAT is around $13.4M

Using bullish P/E due to growth profile $13.4M x P/E 20.0 = $268M mcap.

But DFS could be conservatively 1.5x numbers for PFS. That $268M becomes $402M mcap in production.

Hammerhead deposit could duplicate the first project. That gets us to around $800M market cap. Might be 2024 for this to start production.

We don’t have much data to guide us on likely annual production for nanotechnology. So difficult to estimate.