Share price path to production

So as I understand it, LTR isn't expected to hit production until Q2 2024. That is a looooong way away. A lot can happen in that time:

- Lithium price falls
- Delays (labour market still very tight)
- Global recession / downturns
- Credit risk
- Other key project risks

LTR appears very cheap compared to companies like PLS - anywhere in the vicinity of $5-10 for LTR seems reasonable if it were producing right now.

But in lieu of that... the question becomes what is fair value now? And what does a path to production look like? Curious to hear people's thoughts (not just rampers though ). I really want to hold until production as the upside looks immense - but I'm also quite overweight in LTR, and need to manage risk - particularly the risks flagged above.