beer&co October 2015 (51c), page-14

They are notoriously conservative in their reports (understandably).

Valuing PLS (all going well in their eyes) at a possible $1 sp, puts the market cap at $700m (using current # shares).

Winding back to May 2014, Rockwood bought a 49% stake in Talison Lithium for US$475m.

That would value Talison at US$969m = AUS$1.36bn - in 2014 (without the explosion in demand for lithium forecasted - energy storage, ev's, laptops, portables etc). What is their value now?

Although our grade isn't as high at the Greenbushes freak of nature mine (curse them!), it's upgradeable to a comparable product, from my understanding.

Would it not follow then, that if we are gearing up to produce more lithium than GB are (approx 1mt currently, but scheduled to ramp up), factoring our likely higher mining / production costs, then we should end up with a market cap around $1bn - $1.5bn too (a sp of $1.42 - $2.13 without factoring in dilution)?

Beer & Co.'s risked valuation is currently $0.51c.

Interesting to see just how conservative they are in these reports. Or maybe investor expectations are 3 x overexuberant in comparison? Maybe I've got it all wrong (quite possible), but logic tells me they are really undervaluing this business.