You have already asked previously kev, nothing has changed. The...

You have already asked previously kev, nothing has changed. The directors don't care as their options don't align with shareholders. So it is awfully magnanimous of you to do this but seriously you are better off munching on that scotch finger, it would taste better than any response you got from the chairman.

With using the current SOI (not fully diluted - 1,317,577,756) I calculate the project is worth 10c per share DCF, once the project is up and running, if KFE borrows the full 507,000 USD Capex, using an exchange rate of 70c.

If KFE does a mix of equity and loan let's say 50% the DCF is 5c per share, the problem for shareholders now are the SOI. Just the same if the company was able to adjust costs or get a better price for billet or produce more then you can tweak this higher.

The story certainly isn't as compelling as it once was back in 2018, before the 249d action scared off the then fair dinkum cornerstone investor, not the kind we have now, no escrow no genuine cornerstone.

Just imagine where we might be right now if it wasn't for the 249d action. Ya never know, Kogi might have even had a mine operating by now and possibly a billet steel mill being built. But then some got their nose out of joint and they knew better.

https://thewest.com.au/business/mining/sports-stars-in-line-up-against-kogi-directors-ng-b88879520z

These are my calculations, many have seen the basis of my DCF valuations before, they are not meant as financial or trading advice.

Please do your own research.