Any Decision to Mine on the Project will require Cradle to provide funding to PHT based on its pro‐rata shareholding Page 3 of 8 in PHT or dilute its interest in PHT based upon a value of such interest of US$20 million plus contributions made by Cradle since October 2015, which is currently approximately US$3.5 million.
The above values CXX at at least 18.5 cents per share
This article says: The market had been expecting CBMM to lower its ferro-niobium price, which has gradually lost its allure compared with vanadium products because of the declining ferro-vanadium price in China, but it kept it at the second-quarter level of around 190,000-22,000 yuan per tonne (equivalent to $42-49 per kg). Ferro-vanadium prices in the Chinese and European markets hit all-time highs last year, partly because of an anticipated increase in demand from the implementation of new rebar manufacturing standards in China from November 1 last year. But prices began to drop sharply late last year when market participants realized that...
