How To Vote, page-34

Don't want to push, but Hartley's calculation seems very very conservative.

The valuation was based on a 20 year 1 Mt/p.a. scenario = 20 Mt resource in total.

Until now Birimian has already achieved a JORC of 15,5 mt + the estimated 3 mt from this week announced drillings = approx 18.5 Mt

That means almost no exploration upside from outstanding drillings is considered in Hartley's valuation.
An extreme pessimistic view...

Maigret