Forgetting about impairment charges totaling a mere $7,266,000 against our Plant & Equipment as per the balance sheet in the 2023/2024 financial year ...., and forget about the $64,666,000 that we wrote off in depreciation against our Property , Plant ,& Equipment Assets in the 2 and 1/2 years from June 2022 to 31st December 2024 we are now valued at LESS than the amount we have spent ( POST Acquisition of NAL ) on asset additions and capitalized exploration of $426,118,000 ( roughly split $153,933,000 exploration / $272,185,000 Property , Plant & Equipment additions )
Even if we then deduct the adverse ( accumulative ) negative movement in cash balances for that 2.5 year period to 31st December 2024 of $120,495,000 and also discount entirely the capitalized exploration dollars which have effectively doubled our MRE....., but for now lets just take it out holus bolus , we then arrive at a conservative ' Hybrid ' view of the worth of these assets in dollars spent terms of a rock bottom ( in my opinion ) value of $151,690,000.
But one has to keep in mind that in this real numbers ' holistic ' as well as simplistic view , that we've ascribe NIL value to the cost of acquisition of the original NAL asset , but at the same time have not factored in any significant writedown or charge off to these original assets due the current environment. So in my view this would just NET off anyway leaving you back at the bottom valuation of $151,900,000 , and which is not far off from where we are right now.
So I find it fascinating that even if you deduct the mostly ' accelerated ' non cash depreciation charged off to these assets in total of $64,666,000 ...., from the total spent of $426,118,000 and also allow for the reduction of the decreased cash balance in this 2.5 year period - You still arrive at a valuation of $240957,000...., and which is were we were a week or so ago.
So I really don't know what the market is thinking here. Perhaps its got more to do with the fact that Quebec Authorities have acknowledged they have done their dough on another $270 million from the bankruptcy of Northvolt AB and will have more egg on their faces from these sorts of historical collapses in this industry and the loss of tax payers funds.
As well as this , the Caisse de depot has also lost on top of that the Government's contribution of another $200 million . So $470 million of value has been confirmed to have been " Lost " .by the Legault Government. And this all happened BEFORE Trump got up and about.
(20min delay)