Another way to look at,Mine development cost is $3 billion,...

Another way to look at,

Mine development cost is $3 billion, which equates 50% ofownership on PIOP Mine Co

Hence Todd values PIOP Mine Co, once developed, is $6 billion

Under this calculation, FMS ownership (40%) on PIOP Mine Co is valued$2.4 billion

Hence Value per share is 68.5 cents.

Interestingly, BBIG’s ownership on PIOP Mine Co is $600 million (10%),which they want to get for a maximum spending of $60 million ($15 million x 4years) though we all believe that the BFS won’t cost that much. So, Todd istrying to get 10% ownership of PIOP Mine Co for 1% of the value of PIOP Mine Co.

DYOR & GLTA