The number will be the highest amount that LD can negotiate,...

The number will be the highest amount that LD can negotiate, whether its 5 or 20 times, we can all justify the multiplier we best think fits for JRL. The timing of the deal now is the more important matter for me, and because we are not miners it may be closer than some think. So what factors could indicate when the deal could be completed? firstly the test work with POSCO which we expect will be completed in the next five month, then we have the approval of over 200 infilling drilling to convert the resource from indicated to measured. In the last video I think LD said that the application was with BLM and they expected approval in the next few months with drilling to start in December. LD did state if we got approval it would be a big green light for the project. I have no idea how much this drilling program will cost but believe it's beyond our current cash at bank. JRL will either raise capital or have a deal done that our new partner will provide funding. Finally the scoping study or now the pre-feasibility study is expected in the not too distant future. There was a lot of hype around the 2021 scoping study which then flopped due to not being able to release financial metrics as part of the study. Its my opinion that, this put us back at least 2 years.

It looks like the timing is pointing to September - December this year, if a deal isn't done by then we will have at least a better understanding of the project