If 66% is $47m USD then our $70m USD for 100% is over $100m AUD (@1.47 today).
That’s the smaller project!
Add the Green Ammonia JV, which I’m expecting to be funded by a large partner.
Add the Yellow Phosphorus JV, as above.
By a simple calculation we are priced too far below even sales, let alone multiples of sales. With operating costs so low, this should be a very nice dividend earner before we know it.
The market will get over the misconceived Angola risk soon enough.
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