Adams,
Alm hold shares in caravel.
Alm ceo is a director of caravel also.
If caravel and Alm merged, potential when everything Is drilled up is 3b tonnes ore / 6m tonnes copper.
Already Alm has nearly 1b tonnes if we use a lower cut off.
A combined Alm cvv could be Australia's largest copper play outside bhp.
There will be a tactical reason why Alm holds cvv shares.
It's a little strange for a little explorer to have that investment in a larger Explorer that will be mining within 5 years.
If we remove cvv and Canterbury investments EV is 7m
Also newcrests cadia will be out of ore in around 10 years.
A plant may exist. I'd add newcrest as a potential suitor due to them needing a new home for that plant at some stage.
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