TIE - Shorting Idea Oct-2022, page-37

Tend to agree however some points to the contrary:

WAF might be undervalued? Making decent cash and relatively low forward multiple?
Burkina Faso looking quite spicy at the moment.
The fact TIE has two obvious takeover suitors obscures traditional valuation metrics and comparisons.

But yes, ignoring takeover, if fair value for TIE in production at this stage is $1, 42% increase from here, then the risk weighting for that additional rise in value is quite high.