Suggesting a "positive scoping study is already priced in to the 15-19 cent ceiling" makes no sense. The SS will be a major milestone that acts as blue print for building an 8B project!
Until the SS is actually delivered, to the market it's an unknown. Add to that we have full government support to fast track this as a project of state significance and major customers begging for green hydrogen, and the market cap has to be substantially more than a $160M
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