$7 isn’t a “stretch” mathematically.
SOI 330M at $7 implies mcap A$2.3B
If trading $5.20, a typical mining M&A control premium (~35%) points to ~$7
Broker PT range currently ~$6.40 to $8.50, depending on price decks and ramp timing
Canaccord (2 Feb 2026): TOTAL NAV / PT @ spot (Cu ~$6.06/lb, Zn ~$1.52/lb, FX 0.70) = $6.86
Therefore $7 sits within mainstream valuation frameworks — not a “blue sky” or fantasy number.
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