Mitsubishi Deal Valued at $1.46 per FL ShareThanks Dogger for that math. Based on current Lithium metrics, $1.46 seems reasonable (before dilution). That brings FL back to August 2023 share price market valuation.
Had the Mitsubishi deal got done a couple years ago at the height of the Lithium market, yes, for sure, Dogger's calculated per share valuation would be double to triple the $1.46 which partly explains why the shares were trading near the $4 price level.
Now we have to start buying Canadian made Honda's (e.g., CR-V Hybrid) and Mitsubishi Outlander PHEV's. A new Fleet of EV's outside FL's office. Possibly Mitsubishi EV purchase incentive extended to FL shareholders.
As Dogger wrote,
......." So $25mm for a 7.5% stake implies a valuation today of $333.3mm, and a share value (on 227mm o/s shares) of $1.46. if you work in the fact that 227mm shares is now 92.5% of the new JV then we're technically working that value against a modified share count of about 246,083,243. That runs the share value to $1.35 with dilution.