IXR Valuation: As the company continues to de-risk the processing flow chart and build new mining inventory, it will continue to add value to shareholders. By way of published timelines, over the next 12 months, the feasibility study should be completed, the regulatory approvals in place and project funding assuming 60% debt funding should be in place. At that time, our speculative target valuation currently stands at A$700 million or $0.13 per share, assuming some A$80m of new equity raised at $0.08 per share and 60% project debt financing.
This does not include potential upside with downstream refining and magnet recycling value add, which should be substantial.
