Ann: Revised Kaiser Resource Est Improves Confidence and Grade, page-69

agree with all that. and on CAI - unless ALK plans to take over rest of the tenements around CAI and buy CAI but under these circumstances, I can't see it play out so best option is to sell.

And I can't see what good came out of pretending there are no issues with TGOE. There was a better way to communicate than to pretend all is fine and according to plan - almost.
Nic should have communicate there are delays with the highway relocation and explain where things are. That would have buy him time to workout new costs. Also, explain due to inflation and some too optimistic assumptions the original costings are too low. Explain what are the outsdaning items and provide some timeline when ALK will be able to collect all price estimates and when ALK will be able provide full report. - in the meantime, ALK will keep providing short updates as they hit certain milestones.
That would have been working just fine.

Only after the last Q report we heard for first time they plan to provide 5 year plan for TGOE which I think will incorporate the costings of the expansion.
So I'd say ~ 50m CR around June?

And see my post above - there is zero acceptance they made any mistake along the way - at least how I understood their responses.