Ann: Minbos Signs EPCM Contract for Cabinda Phosphate Project, page-90

I agree - but at the same time you can have a lithium explorer with a few promising drill holes but no JORC resource sit on a mc around half of ours, i.e. around $50mill. At least we have the resource and the very cheap power required to produce the P4, together with a cornerstone investor with very deep pockets that invested for access to our phosphate for use in LFP batteries. There are enough reasons that even this project should have some value even though it's very early stage - just as those lithium explorers are.