Ann: Becoming a substantial holder from LSR, page-7

Incorrect assessment mate, from what we already know on that ground we have over 1.5Mt at an average grade over 1 percent, will it become over 10Mt? don't know its yet to show up in drilling.. but will this near surface asset go unmined ever, quite impossible considering exiting logistics and open pit operation for the near surface nature of the ore body.

Just put a value for 1.5Mt with 1% grade considering the 6% enriched is over 5300 dollars per tonne.. set aside possible spodumene price correction to 3000 which I don't think going to happen but just for worst case scenario, additional drilling and mine establishment capex 200 - 300 mil.. still have a base asset value easily over 300mil and 20% of that is 60mil and what FBM has paid is 3.5 mil and including the 1.5m recovered from earlier Ni asset sale.. by no means it is a overpayment