Ann: Quarterly Report - March 2018, page-151

I value Mt C at $2 and SDV/JB combined at $0.50, which gives a $2.50 valuation. I'm probably being generous valuing SDV and JB at $200m given the largest lithium reserve in the world (AVZ) only has a MC of twice that. I'm also inclined to give a governance discount given that the Board/Executives are starting to be found wanting and their ability to execute the next phase of the business is dicey.

It's also hilarious people on here saying the share price is being manipulated. It's still generously valued even at today's closing price. Would they prefer the share price to be $4 before the quarterly and then drop 20-30% in a day? Short sellers provide equilibrium to the market. With or without them, the share price would still be around where it is after today's sub-par report.