Absolutely true Mondy. They might get finance but it will be at...

Absolutely true Mondy. They might get finance but it will be at credit card type rates.

Most assumptions generally appear reasonable. Opex and Capex look ok - perhaps a little aggressive on the mining costs but more realistic than a lot of their peers. Strip ratio is close to best in class if not the best. Ore loss and dilution assumptions are ok - aggressive but ok. Recovery definitely appears aggressive for a DMS only circuit. More down side than upside in the numbers but it is a promotional document!

Market price assumption is madness though in the current environment, especially given the Liontown situation. Undermines any strengths in the project IMO.

Still think it is one of the better undeveloped projects out there though.