Ann: $18 Million Placement to Advance Arcadia, page-129

Cheers for that Piav. Things are definately heating up and Africa/PSC getting more attention as the market wakes up to not just the potential anymore, but the fact lithium mines are getting snapped up every week almost now.I was thinking last night around SFTH comments and also just looking at the buying on Avz yesterday, that to be 1/10th of AVZ value, really positions PSC to make a big move come funding/FID. Yes I understand A VZ sheer size will always make them a darling and higher valuation (currently $1.7b)….but this illustrates just how undervalued PSC now is when compared to peers at $180m Mc.When it gets funded, which in all honesty is basically a home run from this competitive tender process, and presents a 2.4mtpa OFS with NPV that could be northwards of $1b when using current market spot rates (yes I know it won’t be presented with spot rates it will only be around $750 a tonne, but do your own maths), the way lithium mines are now being valuated I can honestly now see this $1.50-$2 first half next year. That would be approx $600m-$800m valuation and even if diluted from partnership to a point where it held 51% for example, still easily achievable pre production. This doesn’t even take into account that we have SEZ, fully permitted, pretty much shovel ready post funding. Exciting times for PSC, opportunity is there for a rerate soon. Also not complaining with the nice steady growth over the past 6 months, but I think otherwise big kick is coming for a closer valuation to peers is coming real real soon as there simply is only so many lithium mines with the sheer size and quality that we have in a mining friendly jurisdiction with the backing of the government. Time will tell soon enough.