Let's get real here. There is a ton of dilution to come, BBB hasn't even advised costs to build the pilot plant. Will it be $5m, $10m?
600m shares on issue once Chia delivers the next $1.5m and my guess is they'll need another $8m for the PP, drilling and working capital, so lets say a further 150m shares at 5c + 20m oppies that Chia & LSI have at the moment.
So by the time ASN has the pilot plant up and running next year, my estimate is they'll have 770m shares on issue, so at 10c will give them a market cap of $77m.
A 2.5/3 bagger from here. I'd say that's a much more realistic target than 50c or a ten bagger.
News: ASN Anson Resources Announces Placement, page-45
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