Care to elaborate on how you get to $5 in 2 years? I just think it's a little conservative!
In 2 years we will have;
- 1 years worth of positive free cash flows @ base case - $30m p.a. (conservatively supports the current SP with no up-side baked in)
- COMPLETED expansion to 3x current operations (PFS already done - this is planned for Feb-22) and will deliver 1 year FCF @ ~$110m p.a.
This alone supports $1bn+ MC or $7.50/sh (132m SOI). For both these points we are hugely de-risked once production commences and goes off without a hiccup in a few weeks time. If we can prove we can do this then we move in on $5/sh very quickly, <6mths time IMO
Then the behemoth, in 2 yrs we will also have;
- PFS that supports HPM completed & likely on the way to becoming a HPM producer - $ = ???, even with heavy discounts you'd have to think $10+++
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Care to elaborate on how you get to $5 in 2 years? I just think...
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