For completeness don't forget about the 3.33 million shares issued to the vendors (meant to have been 28/02/23) but no announcement as yet.
+the further shares to be issued to the vendors upon completion of the various milestones with the amount of shares to be determined by the future 10 day VWAP at time of issue.
So for arguments sake we're talking 100m shares roughly on issue. At 14c that's an EV of around $10m allowing for two months of cash burn between the last quarterly and now from existing cash reserves.
Tiny EV in the scheme of things. Haven't done a screen of all ASX companies in the REE space yet to see where it fits in comparatively to it's peers but for an explorer with early stage clay REE and an advanced hard rock REE project I would bet it's still even in the lower quartile which in my opinion makes it a way better value proposition than peers.
Will run a screen later today and share.
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For completeness don't forget about the 3.33 million shares...
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