Hat's off. We used $1250USD/tonne for the first 5 years, down to $900USD after that, hence the overall 'conservative' $979USD. Smart move.
CAPEX - escalated by 20% which is no surprise, perhaps even less that I'd expected it to. Leaves us with a capex need of US $255m for Stage one, and we have US $194 from Ganfeng, leaves a US$59m delta. Will be interesting to hear how this gap is filled - we all know that there will be a small capital raise on listing of LLL, but that's $84m AUD... quite a lot to raise JUST from the existing shareholders again (IMO). Cursory glances through the documentation didn't mention the source for this funding, so I'll wait for the verbal presentations once they're out.
