RWD Peer Analysis, page-24

Even though RWD appears to have a resource that is:

* 5x the size of Crystal Peak's
* Is expected to produce 100,000 t/pa more than Crystal Peak
* And has a capex estimate that is US$120 million lower than Crystal Peak's

Crystal Peak's mkt cap is 2x RWDs.

So assuming RWD matches Crystal Peak's Market Cap as a minimum, then that gets RWD's share price to $0.78.

This is roughly consistent with the earlier technical analysis that suggested a minimum move to $0.75 on moving averages.

The takeaway - the lows have been set.

We are now waiting for a catalyst to re-rate MR.