Calminer - this was posted by @wombat777 circa 3 weeks ago.
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There is a possibility ADN could go it alone on HPA and produce HPA using feedstock from Mt Hope.
However, below is a scenario for HPA production from Great White feedstock based in line with the 75:25 JV.
DYOR. Not advice. Analysis presented here is highly-speculative and is not intended as advice. You must do your own research and make your own investment decisions.
I've assumed here a 15% royalty on gross sales goes to AEM and 25% of profits goes to MEP.
One thing in ADN / MEP's favour is that cashflow from Great White would help fund construction of a HPA plant.
What could this be worth to MEP shareholders? ... I think $0.41 to $1.24 with an allowance for further dilution. I've assumed that cashflow from ceramics helps to minimise dilution.
![https://hotcopper.com.au/data/attachments/3257/3257789-a2ebd974a0022111fa6413a7f714582a.jpg](https://hotcopper.com.au/data/attachments/3257/3257789-a2ebd974a0022111fa6413a7f714582a.jpg)
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Also, many other prices based on upcoming catalysts / fundamentals is spread out through the forums - also alot of great information regarding the other projects. I would highly suggest scavenging through the forums as it is highly valuable. Other people like @HarryKane have suggested a possible TO scenario.