Obviously not everyone like investing in African projects.
For comparison, a Zimbabwe lithium project, Arcadia (not funded to production), was acquired by Chinese listed company for US$422m.
LLL, current market cap is $468m with cash $84m + JV 50% shared cash US$65m, equivalent enterprise value US$202m (market cap A$468m - Cash A$84m - Cash US$65m).
China's Huayou buys lithium mine in Zimbabwe for US$422 million
By Reuters 22 December 2021
HARARE (Reuters) -China’s Zhejiang Huayou Cobalt said on Wednesday it would pay a total US$422 million to acquire the Arcadia hard-rock lithium mine in Zimbabwe.
General Discussion, page-1030
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