Ann: Giro and Authium Project Update, page-4

This lithium project is going to be terrible for Amani and the share price once relisted. Comparing with Jindalee Lithium (stock code is JLL) will tell you everything you need to know...

JLL a 800% larger LCE resource (on paper) but the enterprise value (~$20m) is less than half of what Authium will be bought for (~$51m). Even if we ignore the resource size difference and assume they are similar assets, Authium is overvalued by at least 150% - meaning we're likely overpaying for the acquisition by 1.5x. The fact that the net price tag has not been negotiated down by at least 50% stinks a bit to me.

We have such a rare opportunity to have shares in a company that is fully backed by cash and Giro sale receivables so throwing it away in a crap deal that is clearly weighted towards the interest of the sellers of the Authium company is stupid. Unless there is a good asset that can be bought cheaply, just returning the money to shareholders is a better move than this. This deal must be voted down IMO if we don't want the share price to halve instantly on relisting...