IMO, even 4p (which equals about AUD $0.08 cents per share) would be low for KP2 considering the market cap at that price (at 8 cents per share KP2 market cap would be about AUD 350 million, as per below figures).
KP2 market cap at 8 cents = current shares on issue x AUD 8 cents per share = 4,377,869,961 x AUD $0.08 = AUD $350,229,596
IMO, an AUD $350 million market cap for KP2 would be very low based on the below information :
Project NPV KP2's Kola project NPV is shown below:
NOTE: The full copy of the above attached broker note estimates an MoP price of approx USD $415/t over project life ("
For our MoP product pricing, we assume a life-of-mine average realised MoP price for granular red of c.US$415/t, which is c.15% higher than the US$360/t we previously used ").
At an MoP price of USD $360/t, project NPV is USD $1.6 billion dollars (
approx AUD $2.5 billion dollars )
At an MoP price of USD $500/t, project NPV is USD $3.3 billion dollars (
approx AUD $5.0 billion dollars )
Kola Project A high grade resource, with district scale development (over 6 billion tonnes of total estimated untapped resource located about 35km from the coast), which has a cost of production that is among the lowest in the industry (below screenshot shows an MoP cost of production of US $102/t MoP, which is far lower than the above stated anticipated market price of MoP for the project life of mine: US $415/t).
Long life production with a mine life of 33 years and a production rate of 2.2 million tons per annum of MoP.
Once in operation, and at a MoP price of USD $360/t, estimated free cash flow will be USD $500 million dollars annually (
about AUD $ 780 million per year ). That will obviously be much higher at an estimated MoP price of USD 415/t Mop price.
VIDEO Project Funding and Construction KP2 has just signed a project construction contract for the Kola project and expects that a debt and royalty financing offer will be received by the end of February 2025 (only 2 months away). Construction is currently scheduled to commence during the second half of 2025 (IMO, that may end up being earlier).
Additional Projects Owned by KP2 DX project.
Dougou Project.
IMO, KP2 is significantly undervalued. 
