Ann: UPDATED PRE-FEASIBILITY STUDY-ATU.AX, page-11

I am a long term holder of ATU with an unfortunately higher av buy price. its disapointing to see this announcement. I see a dramatic reduction in the previously announced annual production forecasts and an ambiguous NPV and resource statements.

can anyone tell me what the project is worth?
it is a repetitive mess of an announcement, poorly constructed with little NEW info, other than we are now going small with no timelines on production estimates.

maybe this is the truth we needed a long time ago(that we should have got) from Gino etc that the project will take longer, and cost more, without the billions that were spruiked previously.

I am a share holder, with hopes this will get off the ground.
however, institutional investors want returns, not blue sky.

there is no suggestion of dividends, just a cost estimate and project value, with a difference of approx $100M, or about 50c per share for the life of the 880kTonne smaller project. Why would the share price go up?
Am i missing something other than the blue sky I was sold by the previous directors?
I do hope this project achieves its potential, and dont want to seem negative, however its a long way off...