It is worth adding 75 cps is the risked value and target price, but the unrisked value is $3.
25% is added to the value for the first anode sales, 25% when production is 5000 tpa and the final 25% when production reaches 25000 tpa. The upside is very large if production is ramped up successfully on the assumptions used.
liftof, page-25
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