Ann: Agreement with Tanzanian Government to progress Nachu, page-86

Total 60Gw production - MNS Share - 24.65Gw


CATL valuation is US$2 Billion / GW of production

When these battery plants reach full production they will be monster assets for MNS.

Without any dilution looking close to US$50 Billion assets. (approx AU $64Billion)

Obviously, there will be dilution...but even if MNS can retain 50% of its current planned production(after dilution).... Its still AU$32 Billion worth of assets

Without dilution, it equates to - $110 per share

if MNS retains 50% of current share it equates to - $55 per share

If MNS retains 25% of current share it equates to- $27.50 per share

If MNS only retains 10% of current share it still equates to- $11 per share

This all back of envelop calculations but its an indication as to how big MNS can be. It also doesn't include future battery plants that are yet to be announced.

Todays announcement was a strong reinforcement that MNS management is very special indeed.