Ann: Feasibility Study for Expansion of Baobab Phosphate Project, page-3

i think the feasibility looks pretty good, operating expenses are low, offering premium product into a market that will soak up new supply.

capital expenditure is higher than the PFS but overall for new project not that large.

NPV dwarfs the current market cap.

my opinion is that there would be many participants that would be interested in a project like baobab. which is confirmed by the company statement " the company continues to have discussions with a number of private equity funds focused on mining and Africa, project financing groups and avenira shareholders.

My personal opinion is that this project will get into production so is vastly undervalued at the current share price.