Ann: CXO: Strategic Inv.in Charger Metals and the Bynoe Project, page-20

"$500K for 30% of Bynoe also implies a total value of around $1.5M for the Bynoe project. So the CXO offer was indeed valuing all the other assets CHR has as well, and paying a 30-40% premium above what the market valued CHR at the time."

CXO is paying $539.6k for CHR shares (9.8%) assuming CHR will buy the rest 30% for $500k and own 100% then CXO will own 9.8% Bynoe for $539.6k
then 100% of Bynoe is worth around $5.5m. or if CHR didn't exercise the option then CXO will buy 30% from LIT for $500k and own 36.86% Bynoe for $1039.6k then 100% of Bynoe is worth $2.82m

and because CXO stated that they have no intention to make a TO offer for CHR so I say these valuation is all based on Bynoe project alone.