As per the conference call, GXY believes SDV is worth around...

As per the conference call, GXY believes SDV is worth around USD$750m, but that the parties are valuing it at a fraction of that. AT mentioned something about US$170m, which sounded like that's in the vicinity of what the offers being made were (?) and that GXY would probably have to meet somewhere in the middle.

So I reckon SDV is currently worth at best US$400m (A$550m) on the market. I previously valued it at around US$550m when I had a fair value of $2. That ought to be a wake up call to holders who think SDV is worth a lot more than that. Even GXY recognises that the price they got for the northern tenement is not going to be replicated for the southern tenement.

So I think fair value for GXY at the moment is around $1.7 (down from $2). Mt C is a fringe production asset at best and its viability is uncertain should lithium prices go much lower. You'd be lucky to offload it for $100m or $150m if you're really pushing it at the moment. JB is next to worthless at the moment in its current state.

We should see another round of broker downgrades next week. Some still have ridiculous targets above $3.