Comparison with Sigma Lithium (quoted on the Toronto stock market) makes much more sense than with Piedmont or Kathleen Valley.
Sigma has a similar type of product (coarse spodumene), though somewhat more advanced (already funded). Also partial offtake. Somewhat higher production of 220ktpa, they would need to drill out more for higher tpa and more longevity. Interesting position to Europe and US markets. Marketcap. approx. 250mm A$.
So even after a rapid doubling you get the gold tenements of CXO for free. How would these be valued if in a standalone company?
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