Ann: Investor Presentation, page-48

You lose credibility when your opening sentence insinuates people who have a differing opinion to yours are "boiler room guys" IMO.

The other less optimistic posters above have addressed the short comings in your argument IMO, when you had a perfect opportunity to be specific about the "outdated facts" and in particular how that improves the probability of a mine being built in the relative near term future.

I get speculation is part of this project, but its not a good investment optic when a generalized aggregation concept such as a 'typical mine delay' is used to negate and dismiss that negative fact. When you glean over the price of Lead, which is under the DFS assumption, and trending down or the pushed out milestones, you've superficially elevated a positive project hypothesis. That optic is compounded when you include the multitude of other assumptions you've inserted into the hypothesis. A probable castle of cards!

All those elements you are suggesting *may* eventuate, but until they do, as best illustrated by price action and milestones being met, then they obviously haven't and that represents risk. So its not about not accepting risk, its really about knowing all risks and their magnitude, so people can balance that against the opportunity + plan their risk mitigation strategy. Closing one eye doesn't satisfy that approach in my experience.