Honestly defining CDL resource (given it is already likely close...

Honestly defining CDL resource (given it is already likely close to 2x as large as their already largest hard rock deposit in world with 2nd best grade) and an EU hydroxide JV / project JV could potentially offset much of sovereign risk factored into the SP. The resource is so massive and high grade that with EU partnership/partnership with a major, the market won't be able to just dismiss because of 'sovereign risk'.

As you said the ML really confirms the project. And once/if this happens the potential seems enormous given the macro factors in the near future and the size of the resource.
If the company do actually have all these things up their sleeve and actually deliver on these then who knows what the SP could be in the near future. But all rides on the ML to get things started.

All IMO
GLTAH