Using a $10lb total cost of production.
10 Year mine life (being conservative)
Fully diluting for options issued and to be issued.
Assume a 50% JV.
JV partner carries equity component.
Deduct minority interests.
Assume Rhenium is not in deposit (if it is it will add $100's of millions to value)
Assume Moly price remains constant
Assume high grade core is mined first (the custom)
The net pretax value per share is $1.22.
Now back to reality, at a brown field stage is it worth 20 cents?
I would argue that once funding via JV is evident (assuming one is coming), then it is worth 20 cents, fully diluted now.
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1.22 net value per share
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