Rome Burning But CLQ Holding Up, page-207

Hi ebner. This uncertainty is definitely there. But it is so potentially large that I feel it is vastly underestimated, for the exact reasons you feel yourself.

Look at the situation with Aussie spec cobalt miners. We all know the potential for big value is there.
But big money does not go in just on potential. Look at the caps of these companies, they are peanuts.

With Clean Teq's potential, I get the feeling that I have checked into it more than most people, even Clean Teq longs. And while it may take a while to convert to cap value, I am persuaded that it will be substantially realized within a reasonable time frame.

In fact I tend to value Clean Teq in the opposite manner of most analysts and other amateurs.

I consider CLQ to be a materials technology company with a cobalt-nickel-scandium project, that most people consider a spec miner.

Most say, "Well, CLQ is a cobalt-nickel-scandium project, cap value of CLQ is $700 million,
mine is as good, therefore mine is also worth $700 million. CLQ is over-valued."

I say,

"The other spec miner with a comparable deposit is worth $300 million.
Could be a lot more if they get a mine built. Clean Teq is $700 cap. Take out $300 million for the metal project, that means CLQ's other businesses are only valued at $400 million.

Let's see. What do I get for the other $400 million in the CLQ premium ?

--I get all the upside on Sunrise nickel and cobalt, same as the other mine.

--I get all the upside on scandium. CLQ has a pipe to Chinalco and Airbus and god-knows-who-else.
The scandium is probably worth the extra all by itself.

--I get a proven technology that can extract all kinds of minerals...gold, uranium, titanium, nickel, zinc, and two dozen others. It is proven and getting contracts. I get IP, patents, know-how.

--I get all of Friedland's connections to big mining for placement and JV of the new technology.

--I get the opportunity to capitalize on mine waste tailings and dumps all over the world.

--I get a water purification company with world-wide offices that already has proven connections to The Hydro Powers in China.

--I get distribution in Africa and China. I get Multotec, Pengxin, Easpring.

--I probably get a graphene filtration technology that is going to get contracts all over the world.

--I'm probably going to get a blockbuster deal on Chinese vanadium extraction.

--I get a pipeline of materials technology from Monash and Chongqing Universities.

--I get access to HPX and support from other companies owned by RF.

--I get Robert Friedland and his team.

$400 million for this ?

Good deal. Sign me up. I wish I had more.