To correct myself:
IRR super-sensitive to lithium price and flow rate
To compare:
EMH used $12,000 LiOH price assumption, VUL is using $15,000
that is 20% less, now look at Fig. 15 in VUL PFS, at -20% we are at IRR 20% and NPV 1.25b EUR...
Ann: PFS Presentation, page-77
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