Hi guys, Haven't posted here in a while... But after crunching...

Hi guys,

Haven't posted here in a while...

But after crunching some numbers I've come to the conclusion we are very mispriced here.
Here's a screenshot of the data - it will make little sense but let me try my best to explain my logic:


Its difficult to understand our cumulative project value given we have two now and each has a different stake (70% for Kitotolo, 51% for Manono)

First thing to notice;
The days approaching acquisition 27th November - 5th December we were trading an average of 2.75% of AVZ Project Value for just our Kitotolo Lease.
I've assumed this is how much the market is willing to pay for the Kitotolo project until it further derisks/develops, so percentile remains constant.
Which leaves the new Manono Project.
Essentially 4CE's Stake in Manono = EV - (Kitotolo Project Value*0.7)
And the Manono Project Value = 4CE Stake/0.51

As it stands, the Manono Project Value is cheaper than Kitotolo. Where as IMO it should be almost double considering the great terms, and also considering the nearology, logistics being solved and the fact its a tin and tantalum producer.

Or just to put it into perspective.
EV before acquisition: $13.7M
EV after acquisition: $20M
Something doesn't add up, ofc the lithium sector has softened a little and AVZ has fallen but the project values account for all of that in the above screenshot.

Other Assumptions:
- Kiambi didn't have a significant weighting in 4CE valuation
- New values include the raise at 5cents
- Excluded issue of $200k worth of shares to be issued upon the deal being signed.

Cheers