Nice for my ISX comparisons, so of the big whack of properties they only get 25% and of that there are only "several potential focus areas".
When I calculated using ALM at 25% of all the property and assuming all the property was comparable (which it is not because obviously they are targeting the sweet spots) this is what I got:
ALM j/v = 58M tonnes to ALM (25%)* 10 (other properties) = 580M tonnes Using market cap of $50M/580M tonnes = 8.6 cents per ton K2O.
ISX mk cap is $15M/970M tonnes = 1.5 cents per ton K2O.
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