I’ll bite, $3.67 = almost 3x the current SP and I like to keep it simple. Again, just another value to the overall transparent light table to take into consideration, that’s all, nothing more nothing less:
MIN 22/11/2018
Mcap $2,963M @ $15.76 fps (188M fps)
Wodgina Ind/Inf res 259.2Mt @ 1.17% Li2O (Prov/Prob res 151.9Mt @ 1.17% Li2O 160ppm Ta2O5)
Albemarle purchasing 50% of Wodgina on an as is pre-production basis for Aus$1.59B
Wodgina value per res Li2O tonne (~3.03Mt contained Li2O) = ~$1,050t
KDR 06/02/2019
Mcap $558M @ $1.38 fps (405M fps, $30M cash, $106M funds for mine development with SQM JV, no debt)
Mt Holland (50%) Meas/Ind/Inf res 189Mt @ 1.5% Li2O + Au (KDR 100%) Meas/Inf res >1M ozs
KDR value per res Li2O tonne (50% of ~2.83Mt contained Li2O) = ~$394t current
KDR SP on Albemarle’s Wodgina JORC resource acquisition value per resource Li2O tonne value of $1,050t Li2O = $1,485M mcap or $3.67 per share.
Post Albemarle’s 50% purchase of the Mineral Resources Wodgina Lithium Project in WA was a halcyon moment and was predicted to be a catalyst for a significant upward SP rerate for some of the other WA lithium producers/developers. Not a happening event to date overall, but perhaps sentiment in now changing for the better… Bye …
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ONLY case scenario: KDR wins outright, Probability = 100%.
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