Ann: 2023 Definitive Feasibility Study Results, page-255

Thank you to Rhino and Hazand for some great insights. Your points make perfect sense. The DFS and NPV is mostly there for shareholders, and that doesn't necessarily mean they're going for equity financing, since it relates to the future value of the company and share price. Banks and other lending institutions would be more interested in actual free cash flows, so I imagine ADN management would have a different presentation/report to convince them. I also imagine there is certain information they can share with Financiers and not so much Shareholders.