Ann: Jaguar Feasibility Study Demonstrates Strong Economics, page-14

Agreed.

My Laywman opinion is that the numbers are very conservative given the speculation/lobbying around the yet to be determined "premium" to be applied to ESG responsible " Ni sulphide" processed recourses, V the dirty "laterlite process" as adopted by China / Indonesia in their attempt to manipulate LME pricing, will play a part in revenue streams available to CTM moving forward.

The adaption of the "bolt on" sulphide refinery after production will further add value to project moving forward, not to mention the other areas that can be further explored adding major benefit to LOM, not to mention "possible" grades, which are unknown at this stage, and I do note the UG scenario.

I take a positive that Mgt are still lookin for a Strategic Partner under "Minority Equity".... now this DFS is completed, I hope that Standard Charter Bank can offer value in sourcing same, i have yet to conduct research into their capabilities.

IMO (Layman) .. the market iwll take awhile to digest what we have within this DFS.... we wont get back to ATH in the immediate future, market dynamics wont allow, until Ni is somewhat back in favor, but i would like to see a steady upward trend.

FID still 12mths away.

Now.... hopefully we start getting some positives out of Bio Novo with some Cu - Au grades to help us along the way.

#jaguar... the roar of the cat