Banter and general comments, page-23209

To put some perspective into how cheap this stock is - I suggest just ONE, one shipment of spodumene......would equate to fair value for this stock, on an annualised price to earnings ratio basis.

That shipment - it looks like, might be as soon as 6 to 8 weeks away (info, photographs coming through this chatline)......so in simple terms, NO further shipments would be required for 12 months - to still put the company on a PE of 10 - and CXO appropriately priced at current SP levels. (on this first and single shipment alone).

Incredible really - but the above comments do deserve some further analysis.

All that my calculations require - is say, this particular first shipment to be 30,000 tons at current pricing....or $180m profit, for the first shipment.

In fact, the pricing used of A$ 6,000 PT nett profit.....is a heavy discount to most recent quoted pricing, from those 2 big spodumene WA exporters.

$180m will be the most value mineral shipment, ever to leave the Darwin Port - and it is very soon, by the looks.

The company had accumulated losses of $28m and capital depreciation options of nearly $80m - up until the end of last financial year alone.

Admittedly these losses and depreciation will not fully cover the tax payable of $180m - on this one shipment, but the illustration is apparent, as to how ridiculously cheap the stock  is.

Indeed its an ultra-simple business model - whereby during the course of the next 12 months, it certainly will not be a case of one shipment of 30,000t - but a forecast annual production from the company, of up to 6 x 30,000 ton shopping consignments.