A stellar run of late, accumulation continues. Hopefully that...

A stellar run of late, accumulation continues. Hopefully that plethora of exploration and other project/corporate news feed to come starts tomorrow before the EGM. The share price is still trading at a discount to its Australian peers.

Updated peer EV/Resource spodumene comparisons/notes below for the interested:

AJM 9/11/2017
Mcap $761M @ 43.5c fps (1751M fps, ~$39M cash, $140M debt facility)
Pilgangoora Ind/Inf resource 44.0Mt @ 1.00% Li2O (Prob reserve 34.2Mt @ 1.04% Li2O)
AJM value per resource Li2O tonne (~441,000t contained Li2O) = ~$1,725t

TAW 9/11/2017
Mcap $186M @ 40.5c fps (460M fps, ~$8.8M cash, $12.5M debt payable from lithium concentrate funds received – 15% per shipment)
Bald Hill (TAW 50%) Ind/Inf resource 18.9Mt @ 1.18% Li2O 149ppm Ta2O5
TAW value per resource Li2O tonne (50% of ~0.223Mt contained Li2O) = ~$1,668t

PLS 9/11/2017
Mcap $1,583M @ 98c fps (1616M fps, ~$107M cash, $127.5M debt facility)
Pilgangoora Ind/Inf resource 156.3Mt @ 1.25% Li2O (Prob reserve 69.8Mt @ 1.26% Li2O)
PLS value per resource Li2O tonne (~1.95Mt contained Li2O) = ~$811t

KDR 9/11/2017
Mcap $565M @ $1.62c fps (349M fps, $3M cash, $106M funds for mine development + $40M cash
upon SQM deal being executed/conditions ticked, no debt)
Mt Holland Li (KDR 50%) Ind/Inf resource 128Mt @ 1.44% Li2O + Au (KDR 100%) Ind/Inf resource >1M ozs
KDR value per resource Li2O tonne (50% of ~1.84Mt contained Li2O) = ~$614t

On a peer on peers sector average EV value @ $1,401t Li2O = $1,288M mcap or $3.69 per share potential and a $746M mcap or $2.13 utilising the PLS figure. All this without even taking into account any corporate activity or refinery valuations.

Again, either some of the Australian peers are overvalued on a simplistic EV/resource tonne value or KDR is still a screaming buy and will hit the above prices early next year when the PFS/DFS is delivered. Exciting times for all. Bye …

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You are neither right nor wrong because the crowd disagrees with you. You are right because your data and reasoning are right. ~ Warren Buffett