I saw SQM and Pilbara and though wow but upon closer inspection what a crap deal giving away so much potential. If they just raised capital and drilled they can capture all that potential like many new explorers out there.
However 30% free carry is still profitable as NMT had about 20% with MIN and they did pretty well. Should this come up as a large high grade resource….it should add at least 200mil to the marketcap imo. Still a shame it was given away for peanuts…..
Ann: Kalamazoo enters Pilbara Exploration JV with SQM, page-23
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