4bn SOI, bugger all cash on hand, at least $500m Usd just to get to MHP with owning the highest risk part of the refining process (HPAL). No cash commitment from offtaker. Only binding on finance. Disregard all value add additions such as sulfates and P-cam.
Where are they getting finance for that? For not even 15% IRR.....
Glad I bailed when I did.
all imho.
Ann: Binding offtake agreement signed with LG Energy Solution, page-147
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