Ann: Pause in Trading, page-233

Spoon feed yourself.  Do some peer analysis on producing peers in-country, (listed and private) and see for yourself what their project EVs are.

And in case you cannot read I clearly suggested a market cap in the future on the decision to mining operations with a DFS in hand. 

I doubt you can understand Ballieu's  model in any case. 

Lastly the THE CON NOTE CONVERTS AT VEC's discretion - so I am glad you agree that a 7% loan is great and that YOU are happy with that.

I am sure that VEC's management can crunch the numbers at the time and determine the best outcome in the future.