Hi Huninni,
You are comparing absolute prices where I am referring to price per tonne of resource, including LiO grade and then further taking into account that James Bay is a 41mt resource whilst Wodgina is a 234mt resource.
On a price per tonne basis (and adjusting for the 50pc sale position), if GXY was to ever sell James Bay at the same value as Wodgina, James Bay is worth $650m ($644m to be exact).
For the purposes of my private equity raider break up analysis I'm simply slamming that down by 90pc to $65m.
I still get north of $3 for GXY even under such ruthless value cutting.
GXY Price at posting:
$2.08 Sentiment: Buy Disclosure: Held
