Some more info on the move by LITM to acquire the Engo Valley...

Some more info on the move by LITM to acquire the Engo Valley Uranium Project in Namibia:

The Company has conducted a preliminary Due Diligence program which uses international standards for calculation and the Company believes the combined tonnage to be approximately 74.5 million tonnes at 252 PPM, which would translate to 37.5 million lb resource. The proposed exploration work program on the Engo Valley Uranium Project will include a review of all historical exploration data, the historical resource estimate, and all previous drilling results.

The average global production cost for uranium, is approximately $33.20 per pound. Current uranium oxide price is $101. $70 gross margin per lb .

$2.6 bln Gross margin over LOM? Not sure about CAPEX etc of course.

We will know for sure in a few months what the real deal is (drilling is about to start).

But if this is worth even a fraction of what is possible, it would have a huge impact on LITM SP.

Lithium project likely worth around 200M at PFS (with current depressed prices, 2 times that if prices stabilize), 1% of area explored, 2 other major areas acquired (Tanco mine adjecent and Ontario), non binding MoU with LG.

Current LITM MCAP 21 M USD....unless we get an economic meltdown, I doubt this will stay at that MCAP. Fair value 200 - 300M, more depending on uranium.

Dont take the above serious please. Ihave no clue what I am doing and not FA. Just my 2c


https://theextractormagazine.com/2024/02/21/british-colombian-company-to-prod-the-skeleton-coast-for-uranium-after-acquiring-68-of-engo-uranium-project/