Actually rereading my post I made a mistake with my valuation.
The unfunded EV is 2 X US130m or US$260m
We also have US$130m in the bank so our half is US$260m unfunded
But is is now funded, Ganfeng will put in US$77m so will we (plus $40m loan)
so the funded EV would be US$260m + US$194 capex = US$454m or A$589m
Our 50% = A$295m + $250m for Morila = A$545m or 69c a share
Firefinch & GANFENG, page-73
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