Ann: Mt Cattlin Update-GXY.AX, page-93

@airconditioner I don't think my example is badly matched. BUT - it may be that further detail is needed. It depends on the capital contribution required going forward. I haven't read the agreement.

But if SQM are putting up the $400m to build, which is really buying 50% for $425m, that seems like a good risked valuation for half a project similar to SDV. Call it $950m risked.

Either way on current market capitalisation of LACX2, SDV is worth a lot.

I think you actually took my comment as a criticism of SDV valuation which it was not.

I'm interested to understand what funding scenarios there may be and your scenario didn't seem plausible.