Revising my valuation to account for a fall in the valuation of comparables (e.g. ARN)
Disclosure: No longer held.
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I'm in.
$11.55 mill in cash, receivables and listed investments.
MC merely $22mill at 8c.
The Geko royalty largely covers quarterly expenses, so no need for future cap raises.
Multiple future drivers for share price appreciation with drilling results.
Right next to the ARN tenements (world-class Rb potential) and significantly greater scale.
Lithium play in a very hot Li market.
Proposed valuation is based on market comparables (i.e. ARN), for an EV of around $50m.
Lots to like here.