If 66% is $47m USD then our $70m USD for 100% is over $100m AUD (@1.47 today). That’s the smaller project! Add the Green Ammonia JV, which I’m expecting to be funded by a large partner. Add the Yellow Phosphorus JV, as above. By a simple calculation we are priced too far below even sales, let alone multiples of sales. With operating costs so low, this should be a very nice dividend earner before we know it. The market will get over the misconceived Angola risk soon enough.
MNB Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
