Very cheap here, probably on DRC worries. However if the company...

Very cheap here, probably on DRC worries. However if the company had gold equivalent projects instead of phosphate would it be selling for 13c a share? NO

P2O5 price 180
Cost per Tonne 60
Output 800 000TPA

Gold price 1500
Cost per ounce 500
Output 96 000 Cacata, 120 000 kanzi

If Cacata was a gold project with 157m CAPEX and 96 000 ounce output at sub 500/ounce costs for a LOM of 10+ years what would the value be?

IF Kanzi was a gold project with 120m CAPEX and 120 000 ounce output at sub 500/ounce costs for a LOM of 10+ years what would the value be?

Figures obviously rough but gives an idea of the metrics of the projects if they were gold equivalent.