Yes, those are just "subtle" variations in the way things are...

Yes, those are just "subtle" variations in the way things are valued. A one year projected price, is slightly different to a "valuation after the construction of the lead smeltor". There are other contradictions in that broker "Information report" around projected revenue. Personally, I do think the apparent contradictions in the report are more a reflection on the Broker themselves, than the company.

The only reflection on the company for mine is in their lack of capability in finances. They have a great track record for delivery, revenue and product line increases - and yet their efforts on the financial side of their company at times show inexperience, naivety and clumsiness. Massive increases in revenue, yet still to turn a consistent profit. I reckon the firm would be significantly better if they improved their skillset in the job role of CFO. Hiring a CFO with some more real world experience and capability could change the firm in a very real and positive way.