dont confuse Chris Ellison taking over as chairman on DLI with the performance of the share price. over the last few months most lithium names have come off their highs, PMT, AZS, PLS, AKE, DLI. in fact they have a very similar overlay. Its industry impact. interestingly WC8 has maintained upward price action in the same period of time, which is starting to become evident why.
Also DLI is around $350M mrt cap for a 12 Mt resource , i havent done a deep dive on them so i may have missed some resource size let me know if i have, but do the math on Chris wanting a control in DI for 12Mt and its worth of $350M vs something that is 50-60MT upwards to 100MT?
ESS has circa 12MT at 1.1% Li for a market cap of $125M so again extrapolate those metrics. I mean broadly speaking and back of the envelope 12Mt for $125M worth in ESS, convert that to AZS where they are targeting 100-200Mt, no where near yet confirmed, but lets say 150MT so 150/12 * 125M is a $1.56B mrt cap which for 60% of andover puts AZS cap at $950M, which it is circa $1.1B, so we about 10% within that value....so these very very broad valuations do tend to translate over.....
WC8 Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
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