Reasonable 10x bagger
And they didn´t make any unreasonable assumptions. Pricing of 1500$/kg Sc2O3 is very reasoanable. Current prices are way above! I also like the Dysprosium. It is very rare and a lot more valuable than NdPr! It is kind of a bottleneck for EVs and wind energy, as it can not be substituted from magnets. IPG is a clear 10 bagger from here in my eyes.
Also keep in mind that it is only the TG zone they analyzed! There are more zones to add up to this. Crazy we still have only 20 mio mc.