I would recommend reading the Cenkos report. Their $0.28c target...

I would recommend reading the Cenkos report.

Their $0.28c target is based on the following, AND IS A FULLY DILUTED TARGET AT 683 Million shares, which includes this raise.

This IS BASED ON DISCOUNTED CASH FLOWS, at $300/t USD MOP.

Broken down as a NAV multiple at stage of project, explained here:



25% NAV of Ohmgebirge for Scoping Study Stage = $124M
5% NAV of Nohra Elende for Defined Resource from Drilling = $29M
5% NAV of Mulhausen for Defined Resource from Drilling = $34M
1% NAV of Ebeleben for Defined Resource from Drilling = $5M

TOTAL for the scoping study target of March 2022 = $179M (after $20M G&A) adjustment = $0.28c per share target.

The following targets are for when the project progresses to feasibility study, funding and production:



If anything, Cenkos targets are severely understated.