The way I usually value lithium companies is to look at when...

The way I usually value lithium companies is to look at when they will produce, how many tons sc6 equivalent per year they will produce, multiply by an estimated profit per ton, then multiply it by 5-10 to get a reasonable market cap expectation for when production is in full swing. Obviously there are then other factors which influence it but that gives me a baseline and guides me on when I think something is over\under valued given its stage.

In AVZ case... if we have a 10mtpa mine, thats 1.4M sc6, say $~3000/t profit (thats conservative until end of decade, then maybe longer term it drops down to around 1500/t and we scale up production / go down stream anyway) .... so yeah as long as we get into production we can weather any of the shenanigans on open dropping the share price... but that's also why the ML and getting INTO production is so important.