XTC outstanding shares, page-8

With 20B shares, and a market cap of $2b the SP would still be 10c. I'd gladly take that 1,400% return from the current SP.

And yes that is an assumption we will achieve $2b MC, but it goes hand in hand with your assumption that we will get to 20b shares. There's also much to be said about the increasing global demand for lithium in the coming years that makes the likelihood of that MC a possibility.

This is a small cap lithium play - no one is suggesting it is a certainty to succeed - although it ticks a lot of boxes. Shares in small caps get diluted along the journey of growth - I think people realise this irrespective of the number of shares outstanding.

If XTC only had 50m shares outstanding at $1.00 each, the growth prospect and the problem of dilution would be no different.