Sinomine 10m @6c, page-33

Not really into guessing the SP. But based on facts, draw your own conclusions.

The NPV adjusted for 70% ownership is AUD$309m and PSC's EV is $100m ish (EV is trading at 1/3rd NPV)

For comparison:

AJM's NPV is A$410m and their EV is A$836m (EV is trading at 2x NPV)
TAW's NPV is A$75m (adjusted for their 50% ownership) and the EV of TAW is A$225m (EV is trading at 3x NPV)

Granted both of these projects are about 1 year further advanced than PSC is currently. But I'm sure everyone, holder or non holder, could agree that PSC have a clear path to their stage. Plus they have a 7 year offtake in place as per the Sino Ann.

No doubt there is room for substantial upside in the SP IMO