RE:My guesstimation: My guesstimation is based on following assumption:
Unlike AMY, which has only one project. So they have to use that critical time (almost) immediatly complete the transformation of COB (change of business) re-evaluation. That is why its wave 3 finished in just 8 days (first week in August). That is similar to an "one-pulse" model, although it gave wave 5 in Nov.
SJL has quite a few great projects and a whole pipeline of potential NR, so they may want a TYPICAL BULLISH TA WAVE PATTERN, (3 up waves and 2 consolidation waves, instead of "one-pulse" followed by long time consolidation). Currently it is in the wave 3-(1)-(ii), and it is supposed to be done in a few hours or maximum 3 days.
SJL has more legs, and takes relatively slower but firmer rhythm. So, I expect this major up wave will start soon and last till next April around expire day of nbpp locking period, and hopefully get off-take contract signed.
My major target in mid-term is Mkt Cap $100m, that is around 50-75c/sh. After that I don't know, depends on the off-take contract, which I guess can not last 20 years. That is too long in this fast advancing tech age. I believe, 20y is only something SJL put on the negotiation table, not what they really expect, and 5-10 years would be more practical.
JMHO
This is just my notebook for learning.