Why the spike today?, page-52

1) Doesn't answer the question. What has Vale got to do with this.

2) What are you prattling on about? "If you run the appropriate numbers in accordance to revised (conservative) EV adoption rates you will find it is impossible to do those methods at an industrial scale." Can you clarify what you are trying to tell us by presenting some of your "appropriate numbers".

3) Jesus mate. Cleantec still has to define the requirements for the front end engineering contractor and you say they can start construction now? Sure they can, dig a few holes here, make a start with getting water to site - whoop dee doo. This is early works stuff, not "real" construction. They are a long way out from real construction. 

4) Go back and review the 2016 PFS and compare it with 2018 DFS. Here are some salient comparisons:

ex.

• 21,952 tpa Ni and Co for PFS versus 21,395 tpa Ni and Co for DFS. That is, lower production volume.
• $680M capex for PFS versus $1.5B for DFS. That is, way higher capex.
• C1 cost of $2.96/lb for PFS versus $4.68/lb for DFS.

So it took CLQ nearly 2 years to update the PFS to DFS. They designed a plant that produces less metal, costing more than double and having operating costs nearly 60% higher. I've done the maths son, and it ain't good reading.  

5) I'm comfortable with my depth of knowledge and understanding of this topic. You recommendations are not required.