Ann: Prairie Lithium PFS Confirms Extremely Low Operating Cost, page-82

Hi mate - I'd appreciate your input. Some other chap raised this point, and I don't think it's been addressed, yet.

Comparing Anson's DFS from 8 September 2022, to today's PFS from AZL, Anson appears to be more attractive; AZL's post-tax IRR of 23.9% v Anson's post-tax IRR of 37%.

This difference in returns looks to be due to the additional cost from the conversion charge for LCE (chapter 11.3 of AZL's PFS).Playing Devil's advocate - why should investors pick AZL over Anson when the latter will (allegedly) give them a better return?

What advantages do you see AZL has (if any) over Anson? Or Vulcan for that matter (I think LKE is a dead duck). I can't think of other comparators right now.

The market must see something otherwise the SP would have tanked by now. I just can't see what that 'something' is.

Would be really interested in your thoughts (or other holders, if they have them), in this regard.