Ann: Great White Kaolin Project - Definitive Feasibility Study, page-119

Since the PFS, Russia Invaded Ukraine and shipping, Oil, Gas, Aluminium, Iron Ore, Lithium and therefore batteries have skyrocketed. Many of these commodities would have been factored into the DFS that were not as expensive 6 months ago for the PFS for the construction phase, shipping and machinery running, maintaining and re-fuelling. If fuel is $1.89 in capital cities, you can rest assured it will be nearer to $2.50+ on the Eyre Peninsula.

With fuel prices up, everything goes up hence the lower IRR, longer than expected time (5.9 years) to achieve payback. Im hoping these figures are on worst case scenario. And of course this would not include the nanotech licensing for CC should it take off which you would think would drastically shorten the payback.

Let's hope the secondary paper work gets though fast, Russia calms its jets, the worlds fuel prices settle back down in the next few months.

It doesn't make this any easier to swallow..

But Calm ya farms and lets get into the Investors presentation on Friday