Ann: Trading Halt, page-202

I was only using the $18mill figure because it is the amount of the capex gap of US$12mill, as explained in that prior post. I used 7c as it was mentioned by someone else and I'm not willing to post info that I'm not supposed to. That doesn't mean either figure is right or wrong. I was just going with that example to show what sp targets were possible with that level of dilution if using the after tax NPV as a guide on upside potential.
That was on the phosphate fertiliser project.

I still think we will see some big interest being announced for the GA project some time soon, which should trigger the market to start to put significant value on that project even before we reach any phosphate potential sp targets. Given the advantages and outside sources including Stamicarbon and potential partners calling it the best green ammonia project globally, it seems to me that a deal is inevitable.
Some here express doubt that Minbos can pull off a project of that size given the delays to date on the smaller phosphate project. What if a very large JV partner joins us on the GA project? That would bring credibility, experience, technical knowledge and funding to the project. A whole new ball game.
A JV partner will have to buy their way in. What will that value the project at? The project currently is effectively valued at zero. We could see a rapid and large rerate based on what a buy in values the company at.