I would like to quote two posters whom I respect a lot because...

I would like to quote two posters whom I respect a lot because of their high quality posts.
Their opinion is so well expressed in this matter, that I couldn't have said it better:

@Suw
"Orior Capital came up with an initial 29 cents valuation of LKE on 28th May 2020 when LKE was trading at just 3 cents. Lots of Nay sayers then questioned the independence and reliability of that report. Fast forward 8 months, LKE reached 29 cents in January 2021."


@gassed
"This extremely comprehensive assessment has been provided by someone who depends on such reports and their credibility on which his reputation and future earnings are totally dependent.The authorSimon Francis is a UK qualified chartered accountant with significant experience in the natural resources and minerals sector. Simon led research in the sector in various roles at major financial institutions including Macquarie, Samsung and HSBC, in a career spanning more than 20 years. Hehas been involved in approximately US$4bn of capital raising, for a number of natural resources companies. Simon has been engaged in the financing of early stage companies using production agreements, and has privately funded exploration companies in various metals and jurisdictions.Simon seeks to deploy capital in undervalued mining and resources opportunities that have beenmissed by the market.

The vast majority of the report is based upon his research on issues totally outside what Lake has provided.And, as Ronaldfc and Suw have stated, based upon all of that detail and what is on the public record, those estimates are most certainly accurate as far as it saying that the current share price is "unjustifiably cheap".

And what do shareholders have to look forward to in coming months!!!!
"Share price catalysts: A number of factors are expected to drive the stock over the fewmonths including a resource upgrade and expansion (3Q21), a DFS (1Q22), an environmental assessment (2Q22), potential offtake agreements, further news flow regarding battery tests with Novonix, a decision as to expanding Kachi, and furthe rdiscussions potentially leading to debt financing with export credit agencies.Stopping at the "first line" and discounting the rest as it isn't "independent", would have to be a highly illogical and unfortunate conclusion to draw from such a comprehensive and wide reaching assessment."