Ann: IonicRE Finalises Acquisition of SerenTech, page-65

After some perusal, I found the estimate table for a Project at PFS stage ~ 25% (from your memory) leading you to conclude:

it would indicate a current Fair Value of around 4c to me,
Which suggests to me that the current price of this share has been well and truly pumped !

So how valuable are your ruminations? and the output of all that digestion.

It wasn't 25%. it was 10%-20% of NPV split the difference and call it 18%

Your 4c/sh would now be 4 x 18/25 = 2.9c. To be rigourous and using 10-20 i,e,15 then 2.4c.

There may just be something just a little wrong with your conclusions. Obviously your memory needs a tune up.

After completing a CR and with $280m M.C. you are saying those who participated in the CR and who have better visibility than us, you can say the 7.4c they were happy to pay .. has a fair value of under 3 c.

I will let folk draw their own conclusions.