At approx 17mt of tailings to process, this would be about a 5...

At approx 17mt of tailings to process, this would be about a 5 to 7 year project to process and produce cobalt (approx 70,000 tons @ US$55,000/ton) and copper (approx 107,000 tons @ US$5,500/ton). If productions costs are say 50% of the value of the copper and cobalt, it's still worth 70% of US$1.95bn, or if production costs were 75% of the value of the cobalt and copper it's still worth 70% US$960bn.

Given the current market cap is AUD$20.17m, I would have thought the company is currently under valued based on its acquisitions.