That's what the $7.5m in the IPO is for. It is the initial capital for Tali to drill with.
Tali Resources WA Ltd plans to list (at this stage) with an IPO valuation of $24m. $7.5m of which will come in the IPO (hopefully). Giving the Pre-IPO value at $16.5m.
AMN holds 40% interest in this Pre-IPO valuation of $16.5m = $6.6m.
AMN holds 40% interest in Niobium Holdings = $31.6m
Therefore, the carrying value of our holdings in Tali Resources WA Ltd and Niobium Holdings = $38.2m.
MC pre-todays raise is $25m @7.5c... so $38m is a 50% uplift on todays pre-raise valuation, not taking into account any positive or negative valuation attributed to the Mackay Potash Project.
The biggest variable to the above is what EV the market gives to Tali Resources WA Ltd when the IPO (<> $16.5m?)... but in answer to your question italabria... the $7.5m from the IPO is what I'm guessing they are planning to drill with.
Hope that helps.
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