veritas report, page-3

A small scale company like this would normally make an announcement that "Veritas Securities have completed a report on the company that can be viewed on our website".
They do not usually state valuations although this may be included in future market/broker presentations.

So they need USD50m - I IMO they will be unable to raise this through debt. Chinese supplier/shareholder/funder is probably a likely scenario.

A good pre-feasibility report next month may be the catalyst to move this thing forward.

I still like the idea of splitting the company into two companies,BV and Narracoota. The markets just can't get their heads around valuing two projects under one umbrella.