Any bid at this stage would have to be based on Asset value, So the price potentially just Doubled with the addition of Coola to the Resource Base; and Monte Verde and Sulima could double it again
Which begs your next question, What do I consider to be Longonjo's "Asset value" ? When a major mining house buys a Project off a small explorer they usually pay around 10% of the in-ground mineral value
In the PFS we had a mineable resource of 100kt of NdPrO,
Since then we have had a 2.3X upgrade, ie 230,000t
NdPr is close to US$100,000/t
So 230,000 x 100,000 x 10% = US$2.3 Billion or A$3,03B
Divide by the 200M shares currently on issue and you get
A$15/share (just for Longonjo).
And I would consider that to be an absolute minimum. Mining houses very rarely get the opportunity to acquire a project of Longonjo's current caliber :- Most of the major Infrastructure is already in place. There is huge upside potential for the Resource base. All of the necessary Permits and Licences are already in place. We have a highly supportive host Government. There is a strong positive outlook for increasing market demand and price for at least the next decade. And depending on who the Bidder is, there may be substantial Carbon credits available to off-set other activities and potential for additional by-product value in Phosphates, Barites and Fluorspar ?
It rarely gets any better than this.