Ann: Visible Lithium Mineralisation extended to Depth by Drilling-BGS.AX, page-131

Hello Aneeso

Some rough calcs. PLS cost per tonne is US$200. Given the extra transport costs but cheaper to mine - lets say worst case scenario BGS' could be US$225 to port per tonne. Low iron content spodumene - selling for US$650 - US$1000 per tonne. Again - worse case scenario US$425 revenue per tonne. 1M tonne mine set up . Say 85% recovery rate gives the company revenue of say US$90m per year. So we are trading at a future (2 years ?) PE of less than 1. Hmmm..........And yes you guessed it....... we have totally ignored future gold revenue.