Its hard to gauge the upper limit of the SP and MC based on current conditions as they are so far above the mean V price for the last 5 years.
Somewhere in the 1 - 2 billion range is fair.....and $5 - $10 on full dilution after funding and mining is under way.
Someone will come in with an off take for sure and do a Glencore style arrangement where 100% of TMT's production will be pre bought