Ann: December 2023 Quarterly Activities Report, page-26

The timing of the Tropicana announcement was really fortuitous for IGO, certainly stopped everyone talking about the quarterly results and the implications for the longer term outlook for the company.

If you look at the market, PLS, LTR, MIN, AZS, you would think they're fairly valued, but once you look at the financials, and the forecast, you need to start factoring in a significant increase in the lithium price to justify the current share price. My take on the current valuation, assuming CGP3 is completed in coming years, and TLEA resumes paying dividends, is that $3-$3.50 is where they're at.

A rational investor would sell, and buy back in maybe 12 months, but irrational lth like myself will probably just ride it out and curse ourselves for not taking the chance to double our holdings when things start improving haha!