Glad it made sense. I know your question is directly about an updated DFS or bankable feasibility, but it's really just an expensive study to show life of mine/project revenue and all the cost associated to it.
Revenue - Cost = Profit.
NPV is profit. Obeikan update to DFS is the "cost" part of the equation. Hence as opposed to explaining the DFS, I went at length explaining this heavily reduced cost (both CAPEX and OPEX, also environmental costs, time/delay costs, and supply chain).
IRR is yearly rate of return. 33% is high!
Further, proven 99.6% battery grade lithium for Wolfsberg process. We already know the chemical process/procedure to do this and just need to scale it up. This is very hard to achieve by the way, CXO does not have this... yet. They sell their materials to China - so China has the chemical know how (I.P.) for these specific materials (each site has different way to extract lithium from the spodumene mined and each chemical process are different (even if only slightly) to each plant).
Wolfsberg project DFS is full value chain. CXO, at least right now, is merely selling rocks at scale.
So I could only imagine Tony's dismay or annoyance for CXO to be measured and valued greater than EUR... but it's not entirely a bad thing because EUR has had major delays.
Also wanted to say, Tony is basically saying now that his focus is funding, which I've mentioned many times.. EUR (and soon to be CRML) main hurdles are funding and supply chains. Cross this funding line (and merger is part of that funding as it's acquiring SZZL bank account... or what's left of it post redemption.. ) and explain the supply chain (already we have end user with BMW), and it's full steam ahead to production.
Many things can happen from now until production but let's assume for a minute it's 2027 and we are producing and selling and making profit... at this stage, I can't see CRML market cap anything less than USD5B. Based on DFS.
So it's a "buy and hold" from me.
For now though, enjoy the day trading!
