i've seen some stupid valuations in my day, but this would have...

i've seen some stupid valuations in my day, but this would have to be the stupidest one by far.

so phil works out NPV of io profit to be $750m over the life, yet he capitalises this at 8x, giving a value of $6bn or $6 per share.

i expect phil to retract this absurd and highly misleading statement immediately

the NPV is $750 which equates to 75c per share. that's it, you can't multiply it by a p/e. by doing that, phil is assuming $750m of profit every year, which is clearly wrong.

so io is worth 75c per share currently. discount that by about 80% given pathetic management, at least 5 years of delays etc and the 25c share price is roughly correct

which means lithium is given minimal value, which i would expect given extremely high uncertainties.

so all that i've been saying about this dog is correct, and phil agrees with me. we are officially in a bear market. the days of easy money are gone. incompetence will no longer be rewarded. ady must deliver for it to be rerated. i'm glad the sp is currently 25c as this will put pressure on management to actually put their heads done and make some progress.