To an extent the raising of equity at a higher price than the market cap indicates a higher Nd/Pr price than in current assessments.
Further, if the SP of Arafura rises to 20c, the current market cap becomes $456 (365*.20/.16). If more, more. I think, based on incentive pricing, he wants the parties who want the Nd/Pr to pay more than 20c.
I'm not really taking any of the current prices into my assessment of NPV/No. shares on issue. However, that's why can't and don't have large stake. Let off-takers price the equity first. Same with the Iluka situation with Northern Minerals and ASM.
As recently as this morning I heard China threatening Japan that if they curtail the sale of computer chip servicing equipment they will withhold materials used for the manufacturing of vehicles. I think I know which ones.
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