pretty poor work, page-3

@ Swiss

I'm not sure I get your point here....

I'm just trying to do an apples with apples comparison - either way you look at the report doesn't appear to do that.

ok you want to include royalties for Lance you add 11/lb to the 12 = 23/lb (without vanadium credit)

Where's the 38/lb number come from?

(it comes when you also add in a capex component - something that neither the lom opex or FSBe C1 cash cost (as adjusted) include).

So do I need to retract?

ps does adjusted mean 'including'? If so, why not say that. they managed to use the word excluding but not including - that's odd in itself?