Ann: Joint Venture with Ganfeng - Overview, page-82

no it wasnt worth zero, well at least not according to sprott.
perhaps thats been the talk on HC but not from the pro's.
The pro's like sprott are much more likely to be on the ball and they still have us at 80c for both right now. It went from $100 mill usd to $130 mill usd but derisked to .9x

https://sprott.com/media/4013/210616-scp-ffx-goulamina.pdf
Increase Goulamina valuation, lift price target to A$0.80/sh based on 0.9x NAVPS5%-1850
We have adjusted our valuation for Goulamine from US$100m nominal to US$130m (US$260m look
through valuation as implied by the transaction, times Firefinch’s 50% stake post earn-in) and raised
our target multiple on the asset to 0.9x, reflecting the significant derisking of it’s funding. Goulamina
now accounts for A$0.18/sh of our new target price of A$0.80/sh. Excluding Goulamina’s NAV
contribution from Firefinch’s market cap and NAV, we estimate that Firefinch is trading at 0.44x fully
funded fully diluted NAV for Morila alone, and the company is one of our top picks among gold
developers (although we acknowledge Firefinch is already producing).