There seems to be a tone negativity here. The market has...

There seems to be a tone negativity here. The market has effectively valued the deal at face value. Removed the speculation on big valued takeover.

However this is a great deal however has given away short term value for long term. Sqm will be moving ahead with building a mine and converter and have completed 8 month technical, location, jurisdiction and financial DD. So I won't bother discussing arguments of feasibility of building g and operating plant.

Unfortunately for the market we don't have a feasibility study so currently market has not wrapped its head around the numbers.very simplify put I believe the project mine and converter has a circa 3.5b valuation. Yes big number with split 1b mine and 2b converter. I have model behind it but no portfolio t throwing assumptions.

Kdr will need to find circa 250m which is backended to participate in 50%.

So the value proposition in times to institutions is this company could be valued at 1.7b in 2019 ish with only 250m capital and managed by the world leaders in the space. This is what will emerge in due course in the mean time milestones will need to be delivered. This will be an institutional owned stock for investors wanting to invest alongside Sqm with still 5-10 x upside in the long term