There are probably more than a dozen seriousanswers to that. ...

There are probably more than a dozen seriousanswers to that.   The stock is sold in an auction the ASX. Right now the consensus estimate is $1.68 in that auction.   You maywant to blame shorters, funds, dumb people or anything else but at close onFriday that is the consensus of the market.   Many would like to forget this fact.   

Second method is to take current book value onpage 40 of annual report of 434M divide by shares.  This obviously gives a small value and for any startup company    probably does not apply but it is a value.

Usually I would use a one year forward lookingP/E times earnings.   A couple of things make this impossible right now.  First P/E   All markets are firmly in a correction Phase. The common definition for a correction is prices dropping 10% below yearly high in less than 6 months.  The ASX is only 11% below right now but many major indexes are more than that.  How do you determine  the correct PE.  Forward looking profits are also a complete unknown.   The company right now is in turmoil.  No one can predict what will happen.   Past Earnings are meaningless but went down allot H1 to H2 last year.  Anyone that claims they know forward looking earnings is making it up.

There are other metrics but they all have theproblems right now.   I always wright down my reasons when I buy sell or review a stock for doing what I do  I would go back and look at those and make a new decision on what to do.   What has changed and how  is the most important thing you can look at to decide if you have to change course.  I review all stocks at least once a year.  A stock like Lynas at least once every 90 days usually more often.    Right now Lynas is in turmoil to trust anyone else’s opinion including mine will probably be a mistake.