e.g. PTR went from 003 -> 009 with $649k cash and 520M fpo.
TWH $420k cash and 410M fpo.
Expecting something similar.
TWH mc @ 002 is $820k so still only $4M mc and ~$3M EV @ 1c.
We've seen plenty of shells with no project trade at a higher EV than TWH would be at 1c.
Ann: Quarterly Activities Report, page-7
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