Rare stocks

To invest in a business with an intent of ten-bagging I want 4 fundamental prerequisites.

1) A massive tailwind/potential with realistic expectations in a theme yet to play out. Ex China demand is massive.
2) No or little debt; so it's not vulnerable to predators & future raises and allows for future development. Big tick for VMM.
3) Competent & credible Management. This team though experienced, is unfamiliar to me but their decision-making and strategic rapid progress is walking the talk. They are well aware of the above advantage and the value of the next essential criteria.
4) Low soi. With only circa 100m issued but funded into commencement of development VMM can at a much higher price release say another 50m (at say $3 to 10) and retain the low SOI benefits, specifically the ability of instos to move sp big time, in an uptrend in our case, and will do so regardless of sp being $1, 10 or 40. Such big players are only now looking at the RE field, pressured by the USA admin.. Ofcourse it has strong appeal for soph's & peasant investors like me. And, the prospect of future div's should be factored into assumptions.

Bonus upside:
Ixr jv - only 2 weeks ago I categorised this as potential upside; now I see it has enormous mid to long term $ value yet to be quantified - 'a rare (that word again) fully integrated RE supply chain ex china'.
Very strong increasing government support in multiple regions led by US prioritising the mining and the processing of non china product.
Early mover advantages.
Competitive advantages in cost & quality.
Scalable - simple, cost effective, essential to get this right first. PFS likely too conservative yet considerably derisks. Likely upgrades from exploration, improvements in extraction & refinement. Strong normal demand growth. Now funded into development stage.
Anticipate a high mid & long term p/e ratio due to soi, competitive advantages, prospect of or actual divs, and positioning.
Likely buyout offers.

Geopolitical risk: china will manipulate the market. Brazil is a brics member. Trump is a mixed bag and anti brics; but he is leading the ex china demand.

Didn't want to start new thread but thought these facts & context should be highlighted. Cheers all.