Ann: Albemarle and Liontown not proceeding with proposed scheme, page-205

Actually I don’t know that - I suspect that’s your opinion but not one I’ve stated.

But let’s play that game for a moment. Let’s pretend that the Government backed grants and low cost loans which are being bandied about for critical minerals and the like are not within LTR’s scope (cough cough) and let’s pretend it’s a full $500M that LTR want to borrow via debt (despite what’s being reported today about mixed equity and debt likely).

And let’s also pretend the cost of that debt is the full 13% you predict here (hmmm). So, interest on $500M at 13% is $65M annually.
Then let’s assume a spod price of just $2,000/T (low enough for you for these assumptions?) … that means selling 32,500T or 32.5kT of spod to pay that annual interest cost.

Umm that’s less than two ship loads of spod … how many ship loads do you project LTR will be pushing out per month?

Please check my calculations and then if I’m correct could you tell me why you’re worried even about your most reasonably pessimistic projection here?