Take a look at this article about the fate of Horse Head...

Take a look at this article about the fate of Horse Head Holdings, now American Zinc Recycling (AZR).  Now I know they ended up filling for Chapter 11 bankruptcy but the numbers involved in their operation and assets was pretty impressive.  Interestingly there was an Australian connection in Macquarie Bank financing their revolving line of credit.

https://www.valuewalk.com/2016/09/mohnish-pabrai-horsehead-holdings/

So TJ's valuation may be achievable if we stay on the right side of the ledger.