They hinted at a comparable reduction in plant CAPEX to the...

They hinted at a comparable reduction in plant CAPEX to the improved recovery rate of vanadium from 90% to 98% however they don’t quantify a decrease in CAPEX.

If there is a material decrease in CAPEX of $126M (15%) as the bar chart suggests, it needs to be disclosed accurately to the market in absolute terms, not hiding in a graph.

If this is the case, amend the slide so CAPEX reads $844M, not $970M or remove the slide as it is misleading and confusing.

Given we have such a high financing hurdle to overcome, a $126M reduction in that $1B hurdle is something to put up in headlights in my experience.

Given yesterday’s debacle, I’m looking for clarity. CAPEX of $970M or CAPEX of $844M?

Maybe you can put in a call Morry.