Significantly undervalued, CY20e EV/EBITDA of 1.2x, page-29

It appears JohnW has gone a bit quiet...maybe finally realized that bypassing a BFS and saving all those $$ and going straight into building the mine which in turn resulted in A40 having a very low debt arrangement = very little interest to repay + this helped to keep the SOI under control = which will eventually mean better ROI for current holders.

Happy days are in sight...Quality Li Concentrate will be needed...ROW Car Manufacturers will start to invest in their own Li converter plants sooner or later, way too risky to be relying on China for such a crucial product...it is also evident that quality Li concentrate can't be produced for peanuts = the price for quality Li will have to go up to ensure enough supply...A40 played this to perfection..starting on low debt...by 2020 we will be producing
some serious quantities and I dare say demand will only go up and thanks to the dive in Li price during 2018 and still too low today...this will ensure a nice delay in new project being financed = supply/demand pendulum will swing in our favour just on time.

All IMO