Ann: PFS Outlines Compelling 4MTPA Expansion Option-PLS.AX, page-2

I understand we have to be conservative in respect to off take prices etc but why use $537 when we know other companies with worse concentrate are going at $600-$650?? Why not base it on this average figure and then show NPV's based on varying spod prices, currencies etc. Ultinately, this isn't for financing because there's no issues there, it needed to be a sales document. The first thing people look at is the NPV and this low NPV has provided enough ammunition for people to sell down. All of a sudden a $1.20 offer looks acceptable and most would accept, just don't see the logic in using this price. I don't see TG pricing included in this either??