Valuation, page-22

I have tried to extrapolate this valuation from Pac Partners using current V prices:
(de-risked version ignores all risks and risked version counts with only 20% probability of success, ie. is very conservative)

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8
0	Price V2O5 $/lb			13	19	25	27	35
1	share price (risked)			$1.4	$2.8	$4.2	$4.7	$6.6
2	share price (de-risked)			$7.1	$14.1	$21.2	$23.5	$32.9
3	current sp	0.45
4	baggers (risked)			3	6	9	10	15
5	baggers (de-risked)			16	31	47	52	73