GL1 market cap today at $1.49 is $202.8m
Assuming Manna is worth 50% - $101.4m
We own 20% of Manna - $20.28m
We own 10m shares in GL1 worth $14.9m
GL1 achieving JORC target (likely) - another $10m payment
Total stake in GL1 - $45.18
BRB's market cap today at 26c is ~$85m, minus the ~$10m cash = EV ~$75m
Subtract the $45.18m stake in GL1, our 1.7Moz gold asset is currently valued at $29.82m
It's gobsmacking madness
Even worse is when you consider the GL1 figures on a fully diluted basis (i.e. including unlisted shares and options) gives a GL1 market cap of $288m at $1.49
Our 20% Manna stake then becomes worth $28.8m.
Total stake in GL1 $53.7m.
Our 1.7Moz gold assets valued at $21.3m
