Ann: Trading Halt, page-22

Just had a quick look back at ARL as I am a holder there also. Their Goongarrie project has a pre-tax IRR of 31%. I would have thought PM1 would be able to get this also considering the higher grade ore, the much lower Capex (less than half?) and I assume lower Opex with the DNI process? Is it the Cobalt credits they have that makes the difference perhaps? Or am I wrong in the lower Opex assumption?

In any event, assuming a solid PFS, where does PM1 rank in the queue for funding against the peers such as ARL/CLQ? They are at DFS so more advanced in that respect but can we catch up given the relative simplicity/lower capex of the project?