Ann: James Bay Feasibility Study Results, page-10

As we can read on page 9, Allkem assumed an average selling price of 1,001 USD per tonne for 6 % Li2O until 2031 and 1,121 USD per tonne from 2031 onwards. If the rest of the NPV calculation is roughly correct then I am optimistic that the project is much more valuable than the calculated post tax NPV of 823 million USD. It could be twice as much. The spot price is already at 2,700 USD per tonne and I can't see the average price coming down that much.