I guess Mozart,
The cash is probably being overlooked at this stage as investors probably value the ore and how likely it is to get to market over and above cash holdings, as the ore would potentially result in profits tens to hundreds of times 110 million dollars.
FMS should have about 17-20 million after option excercise BTW.
But it could also be the median price that most current FMS holders have bought for being higher than BRM, thereby inflating the MC in comparison.
It could be something to do with proximity/cost/availbility of transport/infrastructure options, or actual amount of ore in the 50% to 62% range but I have no knowledge of Brockman in these areas, so I can't comment. Can you enlighten me on these topics?
contaminants , page-45
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