The merger might not get up
The project has to be valued at $150M by a third party
A third party might not use $2000/t as the graphite price
A third party might not assume hypothetical resources exist
A third party might not say that you can build a processing plant that usually costs $150M to $200m for $35M like LMB have assumed.
But I guess if you use your granny as the third party all is good!
The problem with forgetting JORC and other conventional standards that the industry uses (to prevent shonks for taking over) is that the day you walk into a bank to borrow money or use a consultant that has any credibility, they will not back down on their standards.
But in essence you right, as long as you are not holding the baby when the sh?t hits the fan, then all is good.
Cheers
Gosouth
HXG Price at posting:
42.5¢ Sentiment: None Disclosure: Not Held
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