What the Capital raising gets them, is the NAL plant. To get it...

What the Capital raising gets them, is the NAL plant. To get it up and running requires the issue of another 1 billion shares at 7.5 cents. This gets them 110,000 tonnes production of spodumene (nothing more). 110,000 tonnes at A$900 = $100 million in sales - $75 million for SYA. At 10% margin = $7.5 million profit. At 30% margin = $22.5 million profit. At constant rate of production of 110,000 tonnes @ 30% profit margin at 8 billion shares = circa eps of $0.003 per share. So gives the shares a value of 3 cents (10% return). But they can't even be assigned a 3 cent value, because 1) there is no production currently and 2) both NAL and Authier sites have limited resources. So over the period of 15 years, the value of each share goes to approx. 0 because the resources are being depleted. I am fully open to anyone providing other (realistic) figures. And I don't mean, digging resources they don't own, turning product into something they can't without more expense, or receiving prices that aren't currently available.