Just to add ...
If we take this transaction as a precedent (i.e. $48k/t LCE), and assuming the converter capital cost estimated by MIN ($8k/t), a 20% project interest in Pilgangoora (24kt LCE) values at A$960m (i.e. with PLS 100% funding stages 2 and 3 capex of $450m).
[(24kt x $48k/t) - (24kt x $8k/t)]
I do concede the MIN converter capital cost ($8k/t) appears low, but who would bet against CE achieving that?
Also, I'm not suggesting this will be the outcome, just setting out the maths, based on this precedent.
Interesting times ahead !
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