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You’ll get it - after the MRE.

8.4p is less a tall order, and more a short one.

Panda, What are the prices of phosphate?

Agreed - if this ludicrous war continues, KRS is primed to explode.

Indeed, we know the MRE is this month - but another one before then or in parallel is the metallurgical testworks, mentioned in a few of the previous RNSes.

I am happy to be corrected - however, Mark Burnett says it in March 5th RNS, unless I have misinterpreted his statement.

Metallurgical testworks’ results before the new MRE.

Similar to my conservative calculations yesterday, at 13:01 - based on only the 2020 scoping study, using today’s metals’ prices.

Cheebye, If you think the upcoming MRE is priced in, I would recommend you read my opinion on it, posted at 13:01 today.

Er, Laallee, perhaps a divergence intended for another board. 🤣

Absolutely no similarity - completely different commodities, with different strategic demands, different valuation scenarios, and wholly different outcomes.

Vot is point of Tungsteinvestor if he not invest in tungsten?

Right, that’s it, I’m throwing my weight behind cbeadle’s and Tungstenman’s 13p valuation - here’s my rough logic:

Applying today’s metal prices to SP Angel’s October 2025 note on the 2020 scoping study would yield an NPV8 of about $2.3 billion.

Now, apply to that NPV8 a low-ball P/NAV of 0.15, giving a share price of 10p.

As the project moves towards PFS, upgrade the P/NAV to 0.30x, revealing a share price of 20p.

Caveats: my estimated figures are calculated on a completely out-of-date study that uses only an 11.7mt resource-size - and inferred.

The new MRE will significantly increase the resource-size, move some of the resources to indicated, include higher grades, incorporate both silver - and the new North Tin zone.

Imagine.

Slurmster, Quite a big response, methinks.

Bluegrass, Articulately contextualised.

Meant ‘So’.

Lupi, Sp can an MRE.

In the MRE, Some of the resources will be moved from inferred to indicated - a massive de-risking game-changer in itself.

Thanks for responding quickly.

Ptun, Did the govt introduce a new fast-tracked planning-application process for strategic assets that would substantially reduce the time required for construction approval?