I think 2ic’s take on this is the most accurate. I think a spod...

I think 2ic’s take on this is the most accurate. I think a spod price of $1,500 is fair for valuation purposes based on projected prices. I think the other costs in the study appear to be conservative. They have not tried to release a pumped up scoping study to make investors invest in a capital raising, they have released one that is conservative so that shareholders will be satisfied with 50c if no other deal goes through. They don’t want shareholders to think their shares are worth $3 and that they agreed to a dud takeover deal. Nonetheless, as 2ic pointed out, even using their conservative numbers this is worth more to a company that doesn’t need to build a plant and can just truck ore to their existing plant. I think the scoping study as is suggests that a takeover price of 75c - $1 would still be a good price for Min Res or Tianqi / IGO who can truck the ore to their plants. They don’t invest the capital of the plant in the Scoping study and the timeline would be faster ie they just have to dig it and truck it to their plant. I would accept 75c-$1. I don’t think Management are capable of taking this to production in a way that shareholders will do better than this. GLTAH