If you guys want to really see what a marketing presentation...

If you guys want to really see what a marketing presentation looks like for a "EV materials company"
https://www.sec.gov/Archives/edgar/data/1798562/000121390021013348/ea137001ex99-2_sustainable.htm

OMG I thought when first read parts of the press release " ... DeepGreen Metals is developing a unique new approach to mining rare earth materials by gathering them on the deep Pacific ocean floor ..." but as one digs deeper (pun intended) there are no rare earths but plenty of Ni, Cu, Co & Mn ... all important EV and battery metals. Still, its ocean floor mining.

Thinking this is a stretch. Then I saw $31B NPV ... now surely there has to be drooling from some posters here who use NPV as a benchmark for valuation (come on own up!!) ... can they be serious ... offering $31B NPV for an EV of $2.4B less than a dime on the dollar. Buy Buy Buy right ... ah but there is fine print.

Now I'm not remotely interested but did the fictional SPAC comparison (since it was brought public via a SPAC today) and MP Minerals (rare earths miner/refiner brought public via highly successful SPAC) and vs my own fictional TLG SPAC.

The color coding is an attempt to make it more readable.
Yellow box is the price/share as baseline that all SPACs use.
Green Box is the "Target" that Aussie puts on the Company based on Multiples
Red Box is Closing share price (which obviously doesn't exist for the TLG SPAC

As you scroll down we are looking for comparable multiples. So using TLG, MP Materials and DeepGreen columns scroll down to EV FY'25 Revenue multiple row

Yellow Box reads 2.2 for TLG and 1.8 for MP and 2.0 for DeepGreen ... so despite all the "hype" if DeepGreen is accurate on their PFS then they screen about the same as TLG. Note the Revenue growth though with DeepGreen at 367%, TLG at 29% and MP and 19% ... the EV/Revenue multiples are NOT in the correct order as you pay more for a higher multiple. Therefore Deepgreen should be higher than TLG

Green Box appear to be in the correct order ... DeepGreen at 4.5, TLG at 4.1 and MP at 3.7

Something else I'd point out is that puts the 2025 Revenue "exit multiple" at ~4 ... which is the low end used in quick 5Yr DCF used in earlier post .... see how that lines up

You can also quickly scroll to the bottom and see the EBITDA multiple at the green target (6.9X for TLG)

DeepGreen want you to focus on 2027 (sounds a shade like QS there). I think that's a long way off into the future.

What's the takeaway from this?
Be careful ... there is lot of "hype" built into TLG when you make the comparison to a hyped up DeepGreen on the numbers that are presented.

FWIW.