Agreed. That would put the market capitalization at around $280 million for QMC. If they are in fact about to break that long awaited commercial barrier, that valuation can be easily justified. If you consider the full 2,000 kg being sold at around $150/gram, revenue would be $300 million or $200 million at $100/gram.

Assume a 25% profit margin (I think is conservative giving this being a new market), you have QMC with $50-75 million in profit. Using a P/E of 30 (also I believe is conservative for a new market), you have a share price be between $3.75 and $5.62 (assuming 400 million outstanding.