As you've said the notable part is the NPV of US$108m project...

As you've said the notable part is the NPV of US$108m project profit, can you tell us:

1. how many years of operation / profit were used in the cashflow projections to arrive at the NPV for the project?
2. what is the Co & Cu prices used by the company in the cashflow projections?
3. could the project continue producing beyond the cashflow projections provided by the company for the purposes of this valuation?

Each of the above will have an impact on the EV of the company. I agree though, this transaction alone will not make WFE a $bn company, but it is a good start to generate positive cashflow to explore and develop the Cu/Co licences that the company has acquired which have the potential to make the company a $bn company with less dilution than would otherwise be the case if we did not have this asset producing income.

A good example of such a strategy being employed is over at LOM, where they were deriving income from alluvial diamond production which has been funding their kimberlite exploration programs, the kimberlites being the blue sky part of the company's assets...