Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-39

i would count out a 400-500mc 50+c range once epa passes erd stage. DVT will be validated and immediately tells you that ASC and muchae will have a lower drag when they go through EPA. essentially 1 approval derisks all approvals (to differing degrees) and puts cash flow with 6 months. now the asx is a future machine so value will likely get baked in pretty early.

that and capex are stupid small so 1 mine can fund 2 other builds... no more dilution.

i only quote mc rather than share price as its unclear what structure the initial build will take, I'm hoping debt... but we've got a fair bit of room in the SOI department so not overly concerned either way.

just as we'd never thought we'd see 14c again... dont discount the possibility of some truly stupid high numbers in SP post feb.