my humble predictions for stb, page-13

I'm thinking more like $25.

They paid 450 mill for a project that has a NPV > Capex of 200 mill. So 200 mill plus all exploration permits.

Based on my figures, STB could possibly have NPV of 2.5 Billion and Capex of say 1 Billion. That's a project profit of 1.5 Billion today dollars.

Current SP around $4 for around 250 mill MC. So sp of $24 would get us to 1.5 billion MC.

And that's without paying a premium.

Happy to be corrected on any of my workings as I'm no mining finance takover guru.