Mick, suppose there were 5 more CRs and the SOI blew out to 400M by the time of production. Successfully producing in a somewhat improved lithium market by ~2028 should yield a MC of perhaps $2B (PLS is over $8B in this depressed market). That'd be a SP of $5. Don't get hung up on CRs. They're a necessity in order to reach the prize. It's just unfortunate that at the bottom of the lithium cycle they have to be at lower prices than we'd all like, but if we get to $5 who's going to remember them or care?
Ann: Renard Project Update, page-29
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