With the offtake agreement secured, a very conservative earnings for the 1st 2 years is 50 million, of which Mark the CEO said could be as high as 100 million. That is also based on the offtake agreement of approx 1mpta mine capacity, which have been announced that it could ramp up to 2mpta after 9 months.
At 25 million a year earnings and a PE of 8, the potential share price is in the 50 cents region. Currently trading at 24 cents offer a huge margin of safety and growth upside.
Current share price is a reflective of the pending JORC results, Feasibility study and resource upgrade. And yes, you are reading right, the offtake agreements are signed before the above results. Lol
