WR1 General Discussion, page-23377

Simple? Interesting comparison taken from LRS early June presso.

This was when LRS already ready announced a 13mt MRE ...market cap was $340m with EV of $290m obviously when Li times were good - so you would need to apply a 50% to that valuation from June which is an EV of $140m roughly.

Well guess what is WR1 EV right now? CIrca $140mil exactly.

Of course we know in late June LRS upgraded its 13mt MRE to about 45mt and they reached about $1bil market cap....but since everything has now fallen 50% from the peak, that would put a valuation of about $500m

SO we will see what discount market attributes to canandian spod come MRE when wr1 releases.

I still think 55mt will see around $1.30 sp, 70mt or more we will go north of $1.50 sp.