General Discussion Topics, page-5985

They actuall have a higher JORC resource now. Plus they have the significant Bi Products in their DFS as well. Higher Quality and perhaps yet to be confirmed ' Purity ' . Plus they are also in a well establish HUB with the likes of Albermarle et al and at least TWO already existing Lithium Processing plants within it's HUB region. And thees are the main reasons together with a direct Off-take with Tesla that PLL is valued much higher that Sayona is currently. Not to say that this cannot change very quickly with $750 million not all that unrealistic over the ensuing few months of consummating any deal.

A lot as I said will come down to what the ' Debt ' component looks like and from whom we get this sort of structure finance. This aspect will also be a significant driver in where that underwritten value in turn takes the SP. But I reckon 7.8 - 8.0 is about its whack given what size and terms this finance might look like. Still pure guess work based on previous analysis and Peer valuations ....other than Piedmont.