independent valuation of luapula plant, page-309

Like Cosmo you really post so much sheet I can only laugh

You are all messed up between US and AU dollars ........

BTW, you have forgotten WFE has an attractive iron ore tenement next to FMG. Woops! The 5 leases that come with the DRC plant? Woops again! Cobalt leases in Canada. Doh!!

“According to the IE report the plant is 'worth' $US33M as is. However WFE own none of this at present.
WFE must pay $US5.5M to own 50% (plus fork over a total of 300M shares at various milestones)
Remember this is BEFORE the company has to raise a FURTHER $US10M to get the plant operational again (as per IE report)..”

So correcting your numbers after spending US$10.5M via US$5.5M + US$5M (300M shares x 2.4c AUD) WFE will own US$16.5M in the plant. That’s a gain of US$6M before doing a thing! Then spend a further US$10M to improve the plant ownership value to US$35M (50% share of $70M) and get it running. That’s now US$14.5M up!!

Guess what champ??? You are up US$14.5M, have a running cobalt production plant and own 50% of a AUD$100M asset (US$70M). Stoked!!

By the way it’s only 100M not 300M shares, the other 200M is at production and first 1000T of sales! So what is the company worth as a cobalt producer?

“Why would anyone think an $84M MCap is justified for a $A23.5M asset???”

What a clueless comparison lolol. It makes zero sense comparing MC to asset value, honestly completely clueless. Why don’t you compare a $2M MC shell which owns zero? A $20M MC explorer who has a lease on a patch of unexplored land. Perhaps a $200M MC developer with $100-200M debt while building a mine? Why no make an equally silly comparison? Because it’s posting sheet!!

I won’t bother talking with a novice what value add will come from the 1Mtpa throughput expansion and SX-EW plant!! I’m estimating a $500M MC before those two additions, after the two additions well past $1Bn MC most definitely

Maybe find a hobby like walking the dog as it seems posting sheet on WFE is pointless?