Savannah Resources Ord Shs SAVNF

Savannah's share price real value calculation

[ScandiumPower]

I made some research work to get some background for what should be the more real value for Savannah's share price. 
Recently, Keliber's lithium project in Finland was taken over by Sibanye-Stillwater reaching 80% ownership. Based on the information from press relases SSW spent  about 450 M euros to this investment together with Finnish government based Finninh Minerals Group, the latter having 20% ownership.
According to company presentation seen recently in a conference Kelibers mineral resources are currently 17 M tonnes and ore reserves 10 M tonnes. Keliber is going to produce 200 k tonnes of spodumene concentrate containing about 5 % Li2O and further refine that to 15 k tonnes of lithium hydroxide. The refinery is currently under construction. The total investments are sayed to be about 600 M euros.
In comparison, based on company presentation, Savannah has total minerals resources of 28 M tonnes, i.e. 65 % more than Keliber. Savannah is planning to produce 191 k tonnes of spodumene concentrate that is almost equal to Kelibers production. Total investments needed are sayed to be about 236 M euros.
These projects has dirrerent final products to be sold and differenbt operational costs, thus the conparison is not straight forward. For simplicity, it if we compare these by ore resources, the value of Savannah should be 65 % more than Keliber's 450 M euros i.e. 740 M euros. Multiplying that wit the 1,800 M  shares issued gives 0.40 euros per share. 
Based on that simplified calculation, it seems Savannah's current share price is only one tenth of its real value.