Ann: Completion of Placement and Sinomine Transaction, page-33

Hmm interesting to watch this unfold.

Quite a positive announcement. The biggest thing that has changed is the agreement with Sinomines. Technically this project is not funded, and the takeover offer must have been a low ball ⚽.

The initial amount of capex is really small, they will fund that easily. If they actually follow through and get started on construction soon, no way it will remain at this price level. Fundamentally undervalued. I do want to see funding terms though.

The upgraded npv valuation is based on a reworked price structure for the Lithium I.e lithium demand still looking robust.