Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-16

It's the reason they have the PFS, FS, DFS, BFS. process. The numbers change the further they get into the studies. The more engineering work they do, the more feasible or not the project becomes. Then they make a decision whether to proceed or not. It's the standard way. James Durant lead the PFS. He's not with the company any more. Rick and Andrea have now done all the ground work in country and detailed out longer trains and efficiencies in running the rail logistics. The numbers are getting better. Hopefully this explains the process to those who don't understand it.