There is so much to like here folks: With Bill B you are in safe...

There is so much to like here folks: With Bill B you are in safe hands. He is one of the best leaders going around! For an Enterprise Value of c.$500M this is what we get:-

- $175m per annum of Mining services revenue

- High quality Board, Executives and highly experienced operators underneath them

- Woodlawn: ~20,000 tpa copper equivalent near term production with <50M capital requirements (likely fully debt funded). Thats a revenue of ~AUD250m per annum.

- Sulphur springs - Bit bigger and bit further away from production- perhaps 30,000 tpa copper equivalent? AUD 375m revenue per annum

- Pioneer Dome - Opinions will be divided here but I have no doubt that with Chris's goldfield hub strategy this asset is very much in money at current spodumene prices. Although I don't want to speculate and lets just say "watch this space"

Once we have mining services revenue as well as Woodlawn revenue coming in - it will become easier to raise debt for construction of Pioneer Dome and Sulphur springs (~70% gearing)

We are potentially looking at a Revenue in excess of $1B per annum in few years time with a very healthy EBITDA Margin and minimal equity dilution. BB is no doubt already looking at the horizon beyond that for growth opportunities. All that free cash will need to be invested somewhere!