Ann: Positive Black Swan Feasibility Study, page-7

Call me glass half full kinda guy, but if this is the Pre AGM pump piece, then it's a big disappointment.

Yes it's profitable which we all want to hear

and operating costs are surprisingly lower then expected

but...

Capex on the Concentrator up circa~50% from FTM announcement

The word "could" used a gazillion times

Further $50 million required to get it up and running ( believe it will be double to allow for ramp up period)

Further 18 months of waiting for "possible restart"

Wording on Funding hasn't changed for years now, so when is the Capital Raise?

Tax Liability nearing $200 million doesn't overly spell great management!

then again glass half full kinda guy...