Ann: Kasiya Pre-Feasibility Study Results, page-4

Well... that dropped like a turd in the bowl. Down from 54c to bouncing around 40c since beginning of August is your typical insider selling as the PFS was passed around for peer review and general leaking. despite the constant selling I recently bought a few low-40's to punt the PFS would bring in some buyers to at least pop on release... yeah nah. Zero support for the stock or the story outside RIO's squirrel grip.

75% increase in LOM capex to ~US$1,700M
48% increase in LOM Opex, though only 25% increase per tonne product on account big lift graphite production
~15% lift in product price assumptions to make NPV look reasonable, which it doesn't really using a 12% discount rate which is a lot more appropriate for an African PFS on specialty mineral commodities
7.5% royalties thank you Julian Stephens, who picks up a tidy 2% himself as vendor
Resource Rent Tax of 15% after-profits was a surprise addition.

All in all, another reason to stay away from Lassonde Curve developers unless you have enough inside to front run downgrades over the journey...

GLTAH (SS RHS)