Ann: Prairie Lithium PFS Confirms Extremely Low Operating Cost, page-164

It's not that I don't want to comment, it's more so that there's no need for me to do so. But since you've been adding really good contribution, and thank you, here's what I can say about them...

There's nothing wrong with your calculations as far as I'm concerned.. but everyone has their own equation. Our IRR for example is over 40%. It's simply just having different things considered that feeds into the equation to come up with answers. Hope this makes sense.

Your posts are great! Personally I wouldn't be comfortable showing our own economic calculation, ie. feasibility study because it costs a lot of money and many months of work. Frankly, there's only so much I can share that won't impact my own ability to be opportunistic... but what I'm trying to show is that doesn't mean we can't share anything, as ultimately sharing means a better investing environment and healthy for the investment in front of us - knowing both good and bad about the business in question (information of value not the trolling).

The only thing I'd add is take more care distinguishing between OPEX and CAPEX. AZL's released PFS muddies the line between them and complicates things by intertwining different parts of the company as opposed to having a singular focus on Canadian mining operation. Go with your gut feel what is opex to what is capex, as well as what is mining cost and separate it from everything else.

Also note $70M cost (I point to this as the prime example for good reason) reported is way too high - the pilot plant's actual cost of drilling didn't cost that much, base your numbers off that instead of PFS (I could quite literally request quotes right now from three 3rd parties to complete the process end-to-end and they'd all quote me less than half of that)

Take information with grain of salt, trust but verify, then make your own risk/reward analysis based on all the information you have. From the looks of things, you appear to already have all you need but just needing to chat with like-minded even if different calculations, to measure confidence. I think you already have your answer so let me explicitly point it out - lack of confidence. So really just need reminding, you don't need to invest in companies straight away at that point of diligence work. You can afford to wait until your own calculus has sufficient confidence.

Perhaps what most people need reminding, and often my team tells me this too - often we unjustly hesitate or jump in too quickly. Ultimately the choice is yours and not end up blaming somebody else, "he said" "she said" dilemma is ripe in these threads.