Ann: First International JV Awarded Omani Copper Mining Licence, page-39

yep, understood, but i do disagree about the "fair valuation". $16m less cash (current and off-take prepayment) means an EV of $8m for a project with a completed FS and approval, LOIs for finance and a NPV of say $70m to be conservative, but probably more like $100m given copper outlook.

alot of empty shells reach $10m before they even get backdoor listings based purely on their registers. in comparison, the main accumulators of this stock are the directors, their associates, and saudis. surely if we were talking a "flavour of the month" rumour then the T20 alone would warrant more than $8m EV.

but understood, value is not about metrics or register in this case and the market has collectively determined that range trading between 2.5 to 3c is all this is worth right now, because every time we reach LT resistance (3.3c) nobody is willing to step over the line.