Updated African peer on peer EV/Resourcespodumene comparisons below after the announcement of AVZ’s Manono JORC MineralResource upgrade.
BGS 23/11/2018
Mcap $47M @ 20c fps (234M fps, $2.3M cash, capital raising due)
Goulamina, Mali (90%) Ind/Inf res 103.2Mt @ 1.34% Li2O (Prob res31.2Mt @ 1.56% Li2O)
BGS value per res Li2O tonne (90% of ~1.39Mt contained Li2O) = ~$38t
PSC 23/11/2018
Mcap $49M @ 2.4c fps (2,046M fps,$12M cash)
Arcadia, Zimbabwe Meas/Ind/Inf res 43.2Mt@ 1.41% Li2O (Prob res 26.9Mt @ 1.31% Li2O 128ppm Ta2O5)
PSC value per res Li2O tonne (87% of ~0.609Mtcontained Li2O) = ~$92t
AVZ 30/11/2018
Mcap $151M @ 8.0c fps (1,888M fps, $6.5Mcash, no offtake agreements)
Manono Global, DRC (AVZ 60%) B of Env lower resource 656Mt @>1.5% Li2O >900ppm Sn
AVZ value per res Li2O tonne (60% of ~9.8Mt contained Li2O) = ~$25t,prev $31t (02/10/18)
ManonoRoche Dure Peg, DRC 60%) Meas/Indi/Infres 400.4Mt @ 1.66% Li2O 750ppm Sn
AVZ value per res Li2O tonne (60% of ~6.64Mt contained Li2O) = ~$38t
Based on an African peer on peer’sresource sector EV comparison AVZ (post JORC resource upgrade) is on a par withBGS at ~$38t Li2O. Ways under the $1,050t Li2O that Albermarle equatedthat the Wodgina Lithium Project in WA is/was worth.
It is what it is, and the market often gets it right. Bye …
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MIN 22/11/2018
Mcap $2,963M @$15.76 fps (188M fps)
Wodgina Ind/Inf res 259.2Mt @ 1.17% Li2O (Prov/Prob res 151.9Mt@ 1.17% Li2O 160ppm Ta2O5)
Albemarle purchasing 50% of Wodgina on an as is pre-productionbasis for Aus$1.59B
Wodgina value per res Li2O tonne (~3.03Mt contained Li2O) = ~$1,050t
