LRS has Hard Rock project, whereas Phoenix possess Brine...

LRS has Hard Rock project, whereas Phoenix possess Brine project. There are noteworthy comparable brine projects:

1. Galan (GLN) - LCE of 1.5 million tonnes, with a current market capitalization of $272 million ($181 per tonne of LCE).
2. Allkem (AKE) - approximate LCE of 30 million tonnes, market capitalization of $10 billion (roughly $300 per tonne of LCE).
3. LKE - 8.1 million tonnes, market capitalization of $234 million.

I think, Its prudent to adopt the CEO's suggested range of $108 AUD per LCE to $250 AUD per LCE. In webinar, CEO expressed skepticism regarding the feasibility of achieving a $5 billion valuation (20-minute onward). His guesstimate was $200 to $250 AUD per tonne of LCE.