Ann: QEM Limited commences trading on the ASX, page-18

The fully diluted market cap of TMT is roughly 50 million. Give or take small values dependant upon 5 cent swings. Enterprise value could come inline with ab 35 million.

So the factor here is do you think TMT is undervalued at the current price? Course it is. So is AVL. So my point is QEM can easily run to 30 odd cents off the back of solid news because EV would still be around 25 million even at 30 cents. Cheaper than all the vanadium plays which are already too low. Considering TMT etc not long ago were almost twice the value.

I did say the whole sector would rebound. You tend to forget I hold TMT and have probably been holding well before both of you. I also hold AVL.