In support of your points , you also have the facts that even...

In support of your points , you also have the facts that even well before the DFS was launched on October 10th and just before their Announcement on 29th September re: " Progress on Port paves way for DFS ".

So the SP at that time was trading at 11 cents on the 28th September or ONE day before the Port announcement and again the same closing price of 11 cents the day before that on the 27th when the SP hit its 52 week low of 9.5 cents intraday.

At the very least then , and if one wants to argue that the 34.5 cents is 80% of the 43 cent $100 million plus cash offer , you should argue at the same time that the SP should ascribed and reflect this additional 11 cents for what the market valued CZR pre- Ports and ( PAV ) value which is NOT included in this deal as well as PRE - DFS value.

So that would put CZR current share price at the minimum right now at 45 cents.

You also have the fact that not only are the Croydon top camp gold blocks prospective for gold , but they are also right in the lithium pocket along with RDN's arrow project , Sayona's Malina lithium project and KZR's gold and lithium ' Three Sisters' tenements.

And that's of course all on top of the DEG Hemi nearology.

So with all the Hype of lithium in the west pilbara , aka Andover etc....., you'd have to have something extra ascribed for that . And you only have to look at others like SBR and RGL who have had upticks in their SP along with the likes of ARV , GRE , ERW , and of course RDN & AZS.

On that basis then , I'm definitely looking for that modest increase to 45 cents in the nearer term. And because at the time of the 11 cents close on 28th September , CZR was worth $26 million and after the Port announcement was worth $35 million , and so at the least CZR should continue to reflect not only the pre DFS & port announcements of $26 million but the additional $9 million the markets ascribed for the PAC port development ....which on its own is probably worth several hundred millions ' collectively ' and where CZR has 50%.

Even if the current SP reflected just the additional $9 million , that would put the current SP based on yesterday's close of 34 cents at 38 cents.

If it then reflected the entire $35 million pre DFS and pre Ports announcement value , the current SP should be sitting around 48 - 49 cents before any further offers and BEFORE the additional 20% cash outstanding till June 2025.

Add the additional 20% withheld to June 2025 from the cash offer and all of a sudden you are at 57 - 57.5 cents.

Anyway , that's the way I'm looking at the value. And the fact that it is relatively small by comparison and that it doesn't include CZR's share of the PAC venture would suggest that the likelihood is favorable that it gets FIRB approvals.