Assay results for Scotty's due next month & MRE.
JRL peaked at around $275.4M MC - $8.9M cash = $266.5M / 10.1Mt LCE = $26.38 EV per tonne LCE. JRL had 10.1Mt LCE MRE at the time.
7Mt x $26.38 EV per tonne LCE = $184.66M. Trieste, Brisk & Hidden Lake = $20M. Total EV = $204.66M + $6M cash estimate end Q4 FY23 = $210.66M MC.
$210.66M MC / 80.49M SOI = $2.62 SP.
Lithium price was higher in April 2022 when JRL peaked so may only rise to $15 EV per tonne LCE x 7Mt = $105M + $20M + $6M = $131M MC / 80.49M SOI = $1.63 SP.
About 7Mt LCE x $5 EV per tonne LCE at low end similar to JRL now = $35M.
Low end should be $35M + $20M = $55M + $6M = $61M MC / 80.49 SOI = 75.5c SP.
We'll wait & see what the market thinks.
General discussion, page-386
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