Ann: Baobab Phosphate Project Update, page-6

Not that it will happen like this but mimran previously invested on a valuation of 80m for baobab, if we take in hard cost of improvement of say 30m and build in a synergy of 20% then that is an all in valuation of 132m

So currently AEv could be valued as follows

Say 105m for Senegal
30m for Wonarah
65m for jdc and associated licenses
Total = 200m / 560 = 36c per share

This would give Aev a decent market cap and would stop the sp playing with the penny dreadfuls. It would also be advantageous to both agrifos and mimran in terms of creating a serious business. Lastly it would bring into play agrifos options which they could use to raise funds themselves or bring in another large shareholder.

This type of strategy would also be helpful if there was interest around jdc.