Ann: ABR Defers Phase 1A of Fort Cady Mine to enhance US Listing, page-73

no issue. just as an FYI i have spoken to investor relations-

1- Project is better as a standalone operation, from one larger phase only. So the smaller stages/phases strategy are scrapped. This is due to costs/capital being in sync.
2. Higher head grades - drilling wells will increase the head grades from above what was modelled historically. heaps of room for improvement.
3. Higher mine life from drilling to the south/east. The US investors would like to see a 30 year mine life if possible.
4. EBITDA/project assumptions remain the same, this is not a downgrade. The EBITDA is almost a 1x multiple. typical stocks in this sector trade at 10-15x.
5. Project upside from marketing chemical products/specialty products.