It's all about timing the market Viva, which means that the POZ has to be alot higher and sustained for a period of time before finance is committed to not only Citronen but a good majority of zinc projects.
And I, just like IBG take my guidacne from WoodMac who happen to be on the money thus far in terms of the zinc market time line. Depleted cons market followed by an increasing draw down of the refined inventories commencing H2 2016.
If you recall the BFS used Woodmac's long term POZ forecast of circa $1.36 to derive the NPV of the project. So regardless of obtaining a ML we need a sustainable higher POZ to move forward.
Now of course this could all change on any favorable revision of the BFS.
Greenland budget, page-44
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