Whate Really is goig ON, page-36

Hahahahhah.

So you think that the shell pre-acquisition ran to $58m without this acquisition being factored in? This just gets better.

In order to be able to sustain such a market cap, especially after the coming dilution and additional costs, they need to have an operation (50% ownership) that justifies that market cap. The report suggests they dont.

The best case scenario of an operational plant post offtake with a cobalt price significantly higher than where it is now provides a $200m NPV in that chart. You know that is not the midpoint based on current prices, you are either misleading or cant read the chart. The worst part is, once you factor in all the coming dilution, and 50% ownership of the project, that best case NPV would barely sustain the current WFE valuation.

When this doesnt trade at multiples of the current share price upon relisting (barring a consolidation) I expect you will provide all the Mum and Dad investors a written apology? I am more than happy to provide one if it does.