Yep, i thought it good value at higher prices. Example, thought...

Yep, i thought it good value at higher prices. Example, thought it good value at $1. If anything had materially changed in the broader market opportunity or specifics of the business, then i’d maybe revise that view. The only thing that really changed in my view was the cyclical decline in the project’s commodity prices and the higher cost of funding. The EV story IMO is intact, there has been no downgrade in the quality of the asset. The cost of developing the asset has gone up BUT ultimately that is more of an issue for low quality projects/assets, with higher life of mine op costs. If you have potentially very low op costs over a very long life asset, in a constrained capital world you become relatively more not less valuable. So, i thought good value at a dollar. I think screaming value at 50c. If you are BHP or Glencore why risk investing upwards of $240m if you could take this out for a fraction of the price. IMO with the rate cycle looking like it’s peaked this will be of real interest to equity partners, and if none step up will be taken out at well in excess of a dollar. So, it’s about risk-reward, bot some reliable forecast of a share price. Very, very considerable upside, for little downside now that the market cap id under 25 percent of invested capital