Ann: IEC Acquires James Bay Lithium Project, page-4

So everyone should look at the equity pro forma

Exisiting 705m FP
Vendor 195m FP + 97.5m op (1.5c two year)
Performance 150m FP
Placement at 0.5c 720m FP + 360m op

= 1620n FP + 150m Performance FP + 447.5m ops.

Approximately. was just a quick look through.
So at 1c, punters are paying 16m mc, with a some low hanging performance shares .
Options will take a lot more to be in the money.

Always look at the pro forma capital structure.
And there are no maps yet of what the acquisition is, or relative to greenstones.

For now, until detail is provided,
For mine C1X better placed to near Adina and cancet and PMT.

Not investment advice