the proof, page-63

re: good valuation. Joel,
I invite you to read page 20 of the 33 page report.
You will see there that the "expert" talks about the high cost of extracting the Lithium.
He quotes a figure of US73c per pound for the reagent needed plus additional costs to come to a full cost for processing transport etc. On that same page he quites a figure of 80c per pound as the full revenue for the output. He also compares the competition SQM who have a TOTAL cost of 40-50c per pound which is the lowest in the industry. ADY cant get close to that as their brine doesnt have the same concentrations. It looks a bit hard to get a profit out of those high costs.
If Lithium is the main revenue earner ( and I agree that it is) how do you get over $ 75m profit per year when the major revenue source is just US $21m and most of that goes in the extraction costs?
Page 20 is a must read! It certainly left me with lots of questions about how they could get anwhere near the profit numbers that they talk about. On my calculations you would need to ignore all of the costs to get the numbers that they claim.
Please study page 20 and let me have some feedback as it does not add up for me.