Can't see it staying below cash for long
There are comparable size projects and capex with much greater EV's that show how cheap LMR is
Take ABX for example (bauxite)
ABX
$2.3M cash
$30M market cap
$12M capex requirement
LMR
$15M cash
$9M market cap (-$6M EV)
$12M capex requirement
Then when you consider shells capped at $2-3M with sub $1M cash
10-12c should be reasonable pricing