Malcolm D- Sorry to correct you but its an 80M NPV which is not Profit.
Also the Bauxite Project is a 50/50 JV so only half will go to MLM.
Based on current market cap of 17.7M with 4.5M in the bank the companies enterprise value is 13.2M.
Therefore based on lets say a NPV of 40M (50%) and excluding all other upside from SCONI etc the shares should be worth approximately 16c when they start mining profitably.
MLM Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held