Phoenix Water - PXW - Lithium - 100x, page-1049

If I'm not mistaken, the total number of shares on issue is 5,470.
So, for a USD 1 billion market cap, the valuation would be USD $1 billion/ 5,470 shares, which equals USD $182,815.

Nick discussed this during the recent webinar, but it was edited out in the broker's link. However, he did discuss this during the live webinar.

So, at a $1 billion USD valuation, the value of one share is $182,815 USD.