Let’s break it down, they have 800,000oz, REE potential up the road from MP, they have spent $30m and have a market cap of under $20m.
the market cap is approx less than $20 per contained ounce and 70% of the ounces are measured and indicated.
the USGS are doing age dating of the fenites, it won’t be a surprise when they confirm that the roks at the Colosseum are the same age as the rocks at Mountain Pass.
ignoring the REE’s the cost per ounce assuming all $30m was spent at Colosseum is approx $25 an a ounce, that seems cheap to me
Limbo-Land, page-5
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