Here it is:
Post AVZ SPP-placement an updated African peer on peer EV/Resource spodumene comparisons are below and again, just another snapshot value to the overall transparent light table to take into consideration, that’s all, nothing more nothing less:
AVZ 5/03/2019
Mcap $100M @ 4.4c fps (2,283M fps, $15M cash, no offtake agreements)
Manono Global, DRC (AVZ 60%) B of Env lower resource 822Mt @ >1.5% Li2O >900ppm Sn
AVZ value per res Li2O tonne (60% of ~12.2Mt contained Li2O) = ~$14t
Manono Roche Dure Peg, DRC 60%) Meas/Indi/Inf res 400.4Mt @ 1.66% Li2O 750ppm Sn
AVZ value per res Li2O tonne (60% of ~6.64Mt contained Li2O) = ~$25t
BGS 5/03/2019
Mcap $45M @ 17c fps (264M fps, $5.7M cash)
Goulamina, Mali (90%) Ind/Inf res 103.2Mt @ 1.34% Li2O (Prob res 31.2Mt @ 1.56% Li2O)
BGS value per res Li2O tonne (90% of ~1.39Mt contained Li2O) = ~$36t
PSC 5/03/2019
Mcap $37M @ 1.8c fps (2,046M fps, $12.8M cash)
Arcadia, Zimbabwe Meas/Ind/Inf res 43.2Mt @ 1.41% Li2O (Prob res 26.9Mt @ 1.31% Li2O 128ppm Ta2O5)
PSC value per res Li2O tonne (87% of ~0.609Mt contained Li2O) = ~$70t
Based on an African peer on peer’s resource sector EV comparison AVZ is now $11 a tonne less than BGS at ~$25t Li2O for JORC resources. Either AVZ is substantially undervalued or BGS is overvalued. But, again both are ways under the $1,050t Li2O that Albermarle equated that the Wodgina Lithium Project in WA is/was worth and the Australian peer on peer average of $535t Li2O.
Go figure that one and let the haters hate, jilters jilt etc again & again if that’s the way they swing … may they also have success and a win as well. Bye …
Australian peer on peer EV/Resource spodumene comparisons below:
MIN 22/11/2018
Mcap $2,963M @ $15.76 fps (188M fps)
Wodgina Ind/Inf res 259.2Mt @ 1.17% Li2O (Prov/Prob res 151.9Mt @ 1.17% Li2O 160ppm Ta2O5)
Albemarle purchasing 50% of Wodgina on an as is pre-production basis for Aus$1.59B
Wodgina value per res Li2O tonne (~3.03Mt contained Li2O) = ~$1,050t
A40 5/3/2019
Mcap $254M @ 19.5c fps (1305M fps, ~$13M cash, $45M debt)
Bald Hill (50%) Ind/Inf resource 26.5Mt @ 0.96% Li2O (Prov/Prob reserve 11.3Mt @ 1.01% Li2O 160ppm Ta2O5)
TAW value per resource Li2O tonne (50% of ~0.255Mt contained Li2O) = ~$998t
AJM 5/03/2019
Mcap $254M @ 14c fps (1820M fps, ~$10M cash, $173M debt)
Pilgangoora Meas/Ind/Inf res 50.5Mt @ 1.01% Li2O (Prov/Prob res 41.1Mt @ 1.05% Li2O)
AJM value per res Li2O tonne (~0.512Mt contained Li2O) = ~$498t
PLS 5/03/2019
Mcap $1,220M @ 70c fps (1744M fps, ~$70M cash, $141.6M debt)
Pilgangoora Meas/Ind/Inf res 226Mt @ 1.27% Li2O (Prov/Prob res 108.2Mt @ 1.25% Li2O 120ppm Ta2O5)
PLS value per res Li2O tonne (~2.86Mt contained Li2O) = ~$427t
KDR 5/03/2019
Mcap $558M @ $1.38 fps (405M fps, $30M cash, $106M funds for mine development with SQM JV, no debt)
Mt Holland (50%) Meas/Ind/Inf res 189Mt @ 1.5% Li2O + Au (KDR 100%) Meas/Inf res >1M ozs
KDR value per res Li2O tonne (50% of ~2.83Mt contained Li2O) = ~$395t
CXO 5/03/2019
Mcap $41M @ 5.9c fps (694M fps, $4.9M cash)
Finnis – Bynoe, NT Meas/Ind/Inf res 7.1Mt @ 1.4%
CXO value per res Li2O tonne (~0.099Mt contained Li2O) = ~$356t
………………………………………………………………………………………………….……
Sometimes the questions are complicated and the answers are simple.
~ Dr Seuss
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