Ann: Siviour Battery Anode Material Study Results, page-258

I don't think people are confusing NPV as capex. People have just used a calculator to add up the total Stage 1 + 2 capex because the company forgot to put the total in the announcement, and some other people seem to have been confused by the layout of the table below and missed the stage 2 PSG facility at $377m. I say the company forgot to include a total because I can't think of any other reason why they wouldn't spell it out, so must be a mistake. Formatting of the table also just unfortunate and not an attempt to obfuscate.



$1,159,100,000 total capex to save you the trouble.


Doesn't help when you have people (you know who you are) on twitter highlighting Stage 1+2 NPV figures but only mentioning Stage 1 capex. More accidental mistakes I guess!