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% of NPV SS / PFS no off-takes or construction finance 10-20%DFS...

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    % of NPV

    SS / PFS no off-takes or construction finance 10-20%
    DFS / BFS pilot plant, no off-takes or construction finance 15-30%
    off-takes 25-40%
    finance 35-50%
    under construction and near term production
    50-75%



    above is a guide discounted for risk along the journey to calculate current NPV… it’s ballpark obviously


 
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