Estimate the value of SUM, page-7

Well ENR went to $400M after some OK Drill Results,
And WA1 hit $1.2 Billion on an inferred MRE.

So on good Bulk Sampling results,
Or Drill Results there is no reason SUM could not hit $400M as well.

Then when the Mining Lease gets approved,
And Mining Begins surely it should exceed the value of WA1
seeing it does not have a Mining Lease.

So something over $1.2 Billion seems reasonable.

Also SUM has Tantalum which is worth 4 times the price of Niobium,
And it is also double the weight.
So the same ppm of Tantalum is worth about 8 times that of Niobium.

This gives even more value to SUM.

I think by then it will depend on how many Tonnes of Material there is,
And what grades it has,
As well as the Met work showing what those grades can be improved to.

If the sands are are decent grade,
They can dig it up and process it very easily.

It would also be Bulk Tonnage.

We also need to see if there's any Tourmaline there,
And if they can get any Top Quality Tourmaline from the ground.

Anyhow that's mostly just all focusing on the one project,
And SUM has many good looking projects.

No doubt once Ecuador is up and running,
They will likely also go and get their other projects up and running too.

At that stage who knows,
It could go as high as $10 Billion or more....