Deal is a bit too low for FWL. BUT it provides more certainty to funding, drilling & feasibility study to get project moving. Consider Brett gave Sing-Tang at $0.17. I think share placement which be about $0.25 minimum.
Without funding, the project will still be worthless in the ground. Not a celebration deal, so get back to work... more drilling to get to 1bt (if possible).
valuation, page-14
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