Part 3 - Takeover vs Offtake, page-19

I suggested as much the day we got the resource upgrade. You can see from the number of TU's you have gotten what the masses think of this :/ . Imo though it is a real risk. A DFS using $460/tonne and 2Mtpa over 35 years will produce an NPV of 600-700m. Is that really what people want to be putting forward if there is a potential T/O in the wings.

Those with analytical skills and who are part of the email group need to be putting together numbers and running scenario's like PB has. Beer and Co did an updated report on AJM today that suggested some of the combined things from the recent agreement between the two companies may lower OPEX, these kinds of things need to be factored in.

Someone (possibly Oz) will need to be willing to present alternative numbers to the DFS to interested parties in the event we get a dud DFS, otherwise this won't be making anyone any money. There is so much potential here but it needs to be displayed properly.