i dont think calculations are correct. You shouldn't do it based on share price, but rather market cap.
LPI owns 51% of the project and has a market cap of $267m.
BRZ owns 17% of the project and has a market cap of $35m.
If BRZ was to have the same valuation as LPI (I have put no value to the WA assets since there has been no drilling), it should be worth $89m, so about 2.5x more than its current value.
LPI is undervalued compared to its peers of GLN and LKE, but BRZ is even more undervalued. For that reason, I actually own both LPI and BRZ as well as GLN.
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- Our partner Bearing ( BRZ ) reached a market capitalization of AU$35M yesterday.
i dont think calculations are correct. You shouldn't do it based...
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