Ann: $6m Modern Manufacturing Initiative Grant, page-63

As do I DaBug! Your always a quality contributor and many a time I've found myself mauling over the possibilities when you've given a good take for the forum to consider.

Your assertion is ultimately spot on. Nobody is going really care in 2 or 3 years time about a DFS which could be long outdated and no longer accurate. And it is fair enough to point out that getting it out there does take up a certain amount of time and resources to do so, so its not wrong to suggest that it could be better to just cut to the chase and get to FID as quickly as possible if it really is a significant obstacle.

And I shoulder that wrong call too, although I still have every confidence that with a bit of patience, this project is a certain goer. That being said, I also think that time and again, we've seen that things take time to achieve (often more than anticipated) and that FID could still be a few months away. Although I feel extremely confident in saying not that with the Spod market going the way it is, it seriously cannot be more than a few months away and Q4 is likely to be all about prepping for construction, signing off on contracts for the mine and going at exploration hammer and tongs for as long as we can until the rains slow things right down.

Considering that however, if they have the time, I see no harm in doing it and it could generate a significant potential amount of upswing if it does bring in a new wave of investors to continue to drive the volumes and the SP up. If new holders see two major milestones reached (resource upgrades and binding off-takes with finance) that's going to suddenly set their radars off that there is imminent major opportunity with this project and they will wanna have a look at the numbers in an up to date DFS before they decide to sink their funds in. The old one at the moment, simply no longer cuts the mustard and the true extent of the project is difficult to interpret for those who don't sit down and meticulously read for many many hours.

As an observation of most new retail investors, they don't want to do that, they just want the key figures and an up to date jist of things and that's what an upgraded DFS has to offer.

Besides, most of the work required for us to make an informed FID would be completely compatible with an upgraded DFS anyway so unless its genuinely a case of having to suddenly divert large amounts of resources and man hours elsewhere, I figure the upshot could be worth it.

Still, yet again, I'll stress that your way absolutely works and could be the path of least resistance to us getting to where we wanna go as quickly as possible. So I'll shut my mouth now