LRS General Discussion, page-11039

Apologies in advance to the more experienced here.!

I'm just trying to work through the price difference LRS V CXO

Current LRS MC is $484M AUD

CXO is a producer , (plus off take agreements ) ,so its on another level regarding market rating.

However, looking at it's quarterly report, Finness has a MRE of 30M mt @1.31% , plus 10M mt at BP33. (40 M mt total)

CXO SOI 1.9B V LRS 2.5B so let's say 25% discount .

CXO closed at 1.12 today so if we come up with approx 40M mt also ,then long term , and we are several years behind CXO ,
We could be worth, long term ,1.12 x 75%, (as above discount ). is say 84c approx.

That's assuming off takes ,funding etc.

Lots of if's and but's, so let's discount that to 60c.

However, that's assuming no increase above 40M mt, and I think we will by a long way over the next 2 years.

Sigma (SGML.TSX), (85 M mt MRE) is valued at 6.5B AUD, and is in the same Brazilian province ,(and just started producing), so a takeover form them is a possible scenario.

We use the same consultants they did ,and they appeared together in the U.S.A. at the Litihum Valley Brazilian promo at NASDAQ a few weeks ago.

Look at their meteoric rise over the last few years, and like CXO, they are about 3 years ahead of us

TIA ,GLTAH