market INDEPENDENT VALUATION REPORT on the MINERAL ASSETS in WESTERN AUSTRALIA held by SUREFIRE RESOURCES NL
Malcolm Castle Agricola Mining Consultants Pty Ltd 10 September 2024
Considering the location, geological factors, and other technical parameters, which could affect the Project economics, in Agricola’s opinion, the implied market value for 100% equity in the Projects is as follows.
➢The estimated fair market value of the Victory Bore Project considered in this Report including the Victory Bore vanadium deposit, the Victory Bore Aluminium Deposit and the Unaly Hill vanadium deposit is A$79.2million to A$115.2million with a most likely value of A$97.2million.
➢The estimated fair market value of the Perenjori Magnetite Project considered in this Report is A$14.5million to A$23.2million with a most likely value of A$18.9million.
➢The estimated fair market value of the Company’s Exploration Assets considered in this Report is A$1.0million to A$1.2million with a most likely value of A$1.1million.
➢The estimated total value of the Company’s Mineral Assets considered in this Report is A$94.6million to A$139.7million with a most likely value of A$117.2million.
➢The Effective Date of the valuation is 10 September2024.
Questions : If the above Valuation (less than 12months old) amounts to: AUD$234.4 Million (7.2 cents per share)
Why is this trading at implied value of $3M to $6M (0.1 to 0.2 cps) ?
Dear Mr Burton or Mr Nikolaenko please explain this anomaly and what would be a current fair takeover valuation ?
➢The estimated fair market value of the Company’s Exploration Assets considered in this Report is A$1.0million to A$1.2million with a most likely value of A$1.1million.➢The estimated total value of the Company’s Mineral Assets considered in this Report is A$94.6million to A$139.7million with a most likely value of A$117.2million.➢Effective Date of the valuation is 10 September2024.
SRN Price at posting:
0.2¢ Sentiment: Buy Disclosure: Held
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