Risks to be Discussed, page-264

That is rubbish - 4 times higher. You seriously need to understand how Discounting works. If LTR continue with a 2mtpa plant when they get to those high grades profit outcomes as it relates to NPV will be significantly discounted given when they will be mined. If move to a 5mtpa configuration there is increased capex, and opex costs in the underground section to think about. Because of grade, costs in underground will be ok but not as low a you think. Obviously this is all based on deleterious elements been low in the assays and as it translates to METs. Costs also depend on how much floatation is used compared to less costly DMS only product.

This is before we talk about approval processes, including access to water, and any risks to cost that an be imposed there by environmental requirements, native title holders, others from operating in Oz thereof.

Risk operate all ways btw as I have posted in the past.

Doesn’t surprise me market reaction here, as IMO what has happened last few days is a poor reflection on management, despite management improving since 2017.

All IMO