based on the spodumene stand alone project, GER will most likely base the PEA on a 2000t/day, this is 730,000tons of .97% Li2O at a 80% extraction rate, assuming a low price of $450/ton spodumene (5.8% concentrate), this is a deposit that is worth$438million in total revenue in 10 years, almost $44 million on an annual basis. Based on that, even if we only get $4million in net income, the stock should be trading at $0.8, which gives us a 400% increase from the current levels. If GER decides to expand the operation to include lithium carbonate plant, the deposit will increase to a $900million deposit with a 15,000 t/yr for 10yrs. what makes since though that we produce spodumene and sell it to Canada lithium at premium price and this way we do not incur any additional CAPEX. I will leave it for management to decide.....but this valuation gives no credit tothe phosphate deposit, do your own DD, you will find out that this company is severely undervalued.