Still got further to go. My excel spreadsheet has $1.84 based on...

Still got further to go.

My excel spreadsheet has $1.84 based on them delivering what they say they will. IF things are less than ideal -  61c. Either way, you're winning.

Here are some of my assumptions. Feedback very welcome

	Column 1	Column 2	Column 3
1	STAGE 1	Base case
2	cost to produce per Tonne (AU)	316
3	FY18 productiion estimate	219000
4	Liuthium cocentrate price (USD)	950
5	AUD/USD	0.77
6	Capital costs AU	$110,000,000
7	Annual interest (15%)	$16,500,000
8	Other long term debt	$17,000,000
9	Long term debt repayments (10%)	$1,700,000.0
10	estimated profit AU	182,790,805
11	Number of years to complete	0.6
12	Discount per year	15%
13	Adjusted profit AU	$166,339,633
14	P/E	11
15	market cap	1,829,735,960
16	Cash	13,300,000
17	Enterprise value	1,843,035,960
18	Share options	77,000,000
19	Number of shares	1,751,322,513
20	fair value share price (stage 1 only)	$1.01
21
22
23	STAGE 2
24	tonnes per year	230,000
25	capital costs	70,000,000
26	annual interest (15%)	10,500,000
27	estimated profit fot stage 2	200,586,234
28	number of years to complete	2.0
29	discount per year	15%
30	adjusted profit AU	140,410,364
31	market cap at project level	1,544,514,000
32	share price attributed to stage 2	0.84
33	combined market cap	3,387,549,960
34	combined share price	$1.84