If the current court case is resolved in a positive way for...

If the current court case is resolved in a positive way for Aguia, I would expect a rerate of the company considering our current MC is under $20m.

The original project economic modeling was done with a potash price below $100/t for memory.

The October 2021 announcement of a MOU for bulk sale was at $74/t AUD FOB although this was non binding as per the announcement.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02441005-2A1333444?access_token=83ff96335c2d45a094df02a206a39ff4

Given all fertilizer prices have risen dramatically since then the project economics must be looking very sweet now.

Below is a graphic from another potash companies presentation showing MCs of some larger fertilizer companies. This is from August last year.
Forward EV/EBITDA of around 8.
Someone maybe able to provide a better comparison for a company with a comparible resource and annual production to Aguia.



Monthly prices USD/t for various fertilizers going back around 12 months. Notice the steep price increases in all.



Just some idle speculation while we wait for the results of the trading halt.