Ann: Phase 1 Project Economics Updated, page-13

Agree Sponge. NPV and IRR drop, though still respectable. Haven't quite had a chance to unpack the why versus the Nov 2022 update (first glance - lower short and medium term hydroxide price?)

The main game is the chemical plant and "The critical minerals framework in Abu Dhabi continues to be developed and state organisation mandates for partnering in such projects have evolved as a result, which led to alternate government entities conducting due diligence on the chemical plant from August 2023."

Nice to see a little clarity on delays - not much, but basically, Abu Dhabi regulatory framework behind the eight ball. Hence I assume we'll get an announcement saying we've sold a bunch of lithium mica from Namibia and that will keep us wobbling along to next year without going bust while we wait for Abu Dhabi to get its house in order. Far out. At least the new due diligence by the Abu Dhabi entities started in August, around 2 months ago.

I am less optimistic about finance this year then but I remain incredibly ready to eat my hat. Sadly after my 1c order went through on Friday.