Canacord Genuity had a very detailed paper into VML as recent as...

Canacord Genuity had a very detailed paper into VML as recent as September 2021 covering all aspects.
https://vitalmetals.com.au/wp-content/uploads/2021/12/d4947d5e-9557-4749-b6dd-24098f82d34b.pdf

Their price target; 11 cents.
What’s changed since?
- supply agreement signed with Ucore
- increase of supply offtake with REETEC
- share price dilution and change in majority interest owner of approximately 10%
- cancellation of Kipawa purchase
- change in managing director
- delay in initial product and processing plant completion by 6 months (but probably expect 1 year)
- current rare earth price assumptions are about as expected (10% lower than in report)
- Canadian government funding, recognition

is it good value at 80% less than Canacord’s price target? You’ll have to decide yourself.