One more example for you that is occurring as we speak. Lithium Energy Limited (LEL) have a 90% interest in the Solaroz lithium project in Catamarca Province, Argentina. They are in a trading halt right now in respect to the sale of the company's interest in the project, and their current market cap is just A$56m. Watch closely for the terms/value of the sale; I guarantee you that it isn't anywhere remotely close to your valuation for Rincon ($1b). And that is despite Solaroz having an MRE almost 5 times the size of Rincon (3.3Mt) and a higher average grade ~400 mg/L.
Their trading halt will be lifted by tomorrow. Keep an eye on it for a quick valuation reality check mate.
AGY Price at posting:
13.0¢ Sentiment: None Disclosure: Not Held
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