RE:RE:RE:RE:RE:RE:Adjustments are necessary... That's fair. Therefore we can extrapolate that they will be producing:
Summer 2018: 2,000 KG (~$16M)
Summer 2019: 12,000 KG (~$100M) - based on recent MD&A stating 10,000 KG for Module #1. I believe this is also fully funded which is great.
Summer 2020: 32,000 KG (~$250M). Assumption: Module 2 will result in an additional 20,000 KG capacity. This is not funded to my knowledge.
Summer 2021: 52,000 KG (~$400M). Assumption: Module 3 will result in an additional 20,000 KG capacity. This is not funded to my knowledge.
I believe this is similar to your line of thinking, do you agree? Your estimate for $330M based on 55,000 KG production is pretty conservative, especially considering their vision is for higher priced product. Assuming that this is the vision for the next three years, I do agree that ~55,000 KG is a reasonable 2021 estimate.
I would like to get your thoughts on the share price come:
1) Summer 2018 using top line revenue as 16M.
2) Summer 2019 using top line revenue as 100M.