You made a valid point and you rebutted your own criticism- Russell had no choice but to resort to lithium and gold when the quarry deal fell through. You yourself said that it would take 3-4 years to get a license for iron duke. Let’s say that in the failure of the quarry deal and having to wait 3-4 years sei still tried to maintain focus on tungsten - the market would have left it around the 1c levels if not less as that is just far too long in the commodity cycle and in the spec market to garner interest.
The lithium hot some interest which enabled a cr at 2.5. The quarry deal being concluded - even if a poor deal- will unlock immense value for sei. Let’s say 8-10 million max - what is current production from railings and existing resource worth to sei? Then can then continue drilling at Peterson’s lode and iron dyke with minimal dilution and progress the lithium assets with minimal dilution. So the quarry deal is the game changer as this will move into production very quickly.
Say the mc upgrades to 30 mil - that is still a nice 3 bag minimum. We r valued at close to to 10 mil not 50 mil. The only risk that is present is raising funds or its mode - do debt and offtakes take the lions share or do holders have to dip in.
SEI Price at posting:
2.1¢ Sentiment: Hold Disclosure: Held
