Fair Valuation of Poseidon Nickel (POS)

TB and few other pundits, please post your fair valuation of POS based on 2 cases
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Case 1) POS goes into production with $50 Million Secured Debt (from Off Taker or Bank to finance plant refurbishment) and $30 Million Capital Raising for Corporate Activities
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Case 2) POS goes into production with $30 million Secured Debt ((from Off Taker or Bank) plus carry out two capital raising of $25 million each. One in Sept and one next year before pressing the button(Ongoing O &M cost).
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POS will definitely carry out capital raising to pay wages, size may vary.