So....based on transaction multiples (5% for USD 5 million) the...

So....based on transaction multiples (5% for USD 5 million) the project is worth USD 100 million for 100%. As we will hold 65% upon completion, AVZ must only be worth USD 65 million?

Seems about right for where the company is trading.....

Well done to Nigel and Leonard for putting a cap on the company's value for the next 18 months. Will make getting the next cap raise just that little bit harder to get away...muppets.