With a market cap sitting at $165m I agree the valuation (for...

With a market cap sitting at $165m I agree the valuation (for 60% of the deposit) is about right considering the uncertainties around finance, infrastructure, lithium market in general, sovereign risk etc.

The short term possibility of millions of new shares being sold shortly, from underwriting the options, could spook any potential traders from taking a position, as this could rapidly drop share price if Canaccord want a quick 50-80% return.