50mt @ 1.25% = 445 aud /t Li2O
at 1100 aud /t = 688m MC = 3.80 SP
for 120mt @ 1.25% valued at 1100 aud /t = 1.65bn MC = 8.60 SP
@patience suggests a sub-50mt MRE would be a disaster, but it really depends what the SP is prior to the MRE. If it's still at these levels I think we can easily anticipate a rise to 800 aud/t Li2O, i.e. for 50mt = 500m MC = 2.80 SP.
800 aud/t is a conservative target, still well below valuation of other decent spod resources out there. PMET and LRS have come off their highs are at 1100 aud/t, as imo are a few TSX-listed plays with unproven resources like LIFT, and even PWM (if they have 4mt @ 1.4%)
Considering WR1 almost certainly has 50mt just from the 18,000m of assays to date, I think after another 20,000m+ the company should conservatively be able to release a MRE of at least 75mt.
75mt @ 800 aud/t = 750m MC = 3.90 SP
75mt @ 1100 aud /t = 1bn MC = 5.35 SP
Josh the reddit geo did good modeling work on LRS and PMET and thinks we already have 75mt. He projects 125mt by June 2024.
WR1 General Discussion, page-18944
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