We seem to be around where CXO was in late 2020 with a drill program about to be under way, CXO finalised that drilling program on 16.12.2020 and was at 8.3c (around 140M MC). Wth lithium prices stronger now we could be higher than this at completion of drilling... 150M - 200M MC?
In the lead up to drill results CXO moved up to 34.5c (approx 500M MC) which we could see also if things align nicely for us. This was in anticipation of results not proven reserves so the potential is there for high MC valuations in the lead up.
If results come back favourable and CXO are interested they would have to pay a premium for a takeover so I would imagine if we are at 500M MC a 750M - 1B takeover value. This is all hypothetical and just my opinion and things may not go this way but it is one scenario I have pondered.
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