- strip ratio has increased from 5:3 to 8:3ok so we have more...

- strip ratio has increased from 5:3 to 8:3

ok so we have more waste burden, more waste to either store or backfill which is probably why our opex is higher below. What other negatives come of this? There is always the potential this

- sustaining capex is up considerably

the project at this points is looking towards the not too distant future of carbonate production. Yes, we will have capex associated with this, which will be better factored in now than 2026/2027 as a last minute addition. We arent going to get there on hopes and dreams.

- cash cost has increased from C$609 to C$817

most saw this coming with all the inflation over the last year. look at the price we are also using for our concentrate that isnt exactly staying low either, but surely u agree $1.350 is highly highly conservative?

- confirmed they’ll be producing SC5.4 not SC6.0

5.4% was only first 3 years then its expected to move towards 5.82 for the following 16 years. End of the day, its not amazing but as long as we have a commercial buyer it brings in the dollars. The larger resource we can establish the larger the cashpile sat there, even if grades arent top tier.

We also cannot say that we have a "bad" PLL deal when ramp up is 50/50 share and by that stage we should be producing nameplate so go onto again 50/50 share. Even with this "bad"deal as you put it, we have a significantly conservative sale price with huge upside potential. Not just in NAL but Mob & Trol. with many irons in the fire and being in production, its remarkable what SYA have achieve in the time they have achieved it.

Its a big well done from me to SYA and management. Hopefully the buck hasnt stopped.