Ann: Presentation to Shareholder Meeting, page-11

Slide twelve is the whole crux of the past days, one little number swung millions of $$$

Somehow these independent geniuses think spod price will only be $446 USD in 2021, so the 800-900$ USD that PLS are currently looking at will have already peaked and crashed by then? ok...

But then they think it will rise again from 2021 to 2026 price of 729 USD(still below present!), strange price action over the next 4 years huh?

Seriously, I didn't know COMO hired from the short bus.

Had we used Kidmans avg spod price of 685$/t, then:

Scenario 2: 2mtpa NPV US$273 M, or ~AUD$364mil,

So NPV of 364 mil? even with all those costs, and just based off 20.6mt? not even the entirety of our current resource, which is a piddly fraction of the actual resource??

hmm much more inline with expectations and thats with tonnes of room for upside from even tiny reductions of those costs, let alone the enormous increase in size and possible grade that is around there

What an over reaction that was, and what a stupid cluster that "PFS" is, above everything else in it, the pricing used is indefensible