The SP has drifted downwards from it's peak of 8.72 to a more attractive 6.56...

But is it reasonable to buy based on unit economics? Which sorts of models are best used to value this kind of business? Is it reasonable to think of it as a future infrastructure style business? It would seem that in a few years time gold miners will be in a position where they either mine and pay for this service or they don't mine (given their competitors will likely be using the best assay technology available)

I just watched the meeting with Chrysos. I know I'm a bit behind.

It does seem like a staggeringly good long term outlook and final question about what are people missing highlighted what was already resonating with me.

These units have a 3.8 mil outlay. Repay themselves in 1 - 2 years. Then they're an annuity stream. It's a very short payback for something which will run for 10 - 20 years. Similar reason to why I'm keen on Smartparking (SPZ) it the rapid payback of cap ex.

So then the question I guess is valuation. According to yahoo finance, C79 has a market cap of 942mil and a PE of 1960.

The PE is outrageous at first glance but around the inflection point this is pretty standard I guess.

How much money will this business be gushing in 10 years...? No seriously, how much? I'm struggling to work it out...