Ann: Quarterly Activities Report, page-251

Numbers might need to consider LOM, tonnes produced, tin prices and tin ratio depreciation into the later 2020's, early 30's.

2 year study and to try to get relevant government approvals, then how long to build in this current construction climate? 4-5??

If the company gets the perfect storm, tin prices stay elevated ( exchange rate deviations considered) AND there is no board instability , of course.

With APAC happily making money from offtakes and slowly creeping up the shareholder ownership register, are they truly incentivised to rush into anything?

If there are any delays and construction goes into the later 20's for finality, then the company might need to increase LOM/ production output further into the future, in order to get a an extended IRR.

Next 1/4erly is at present, probably the most important one that the company may present in order to give the market better indication in mapping out future capital management prospects..

Geezus some sort of divvy or buyback would be bloody welcomed after the last 2 years of price action...