Starting to turn back up from what I'm hoping will prove to be a very oversold level. Indicators turning up. Fertiliser prices surging. 70% of capex debt funding already sourced from an export credit agency (government lender). IRR of 30% and Net Present Value of A$3.4B. Mc is just $95mill. Some very large upside potential there. Safe jurisdiction, very low country risk in South Australia. EIS approved and fully permitted to production. Zero carbon project. Will be the lowest-cost producer of urea in Australia by a large margin and globally very competitive. "Urea production prices at $109/tonne placing the LCUP in the lowest cost quartile of global urea producers".
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