Ann: Vares Silver Project Definitive Feasibility Study, page-8

I'm generally not a devil in the details investor, more a big picture, is the share price over/under value kind of guy.

We know Cronin uses spot price (with some controversy), so all the commodity prices are at their higher end (depends on where in the cycle you think we are at). So I'm looking at the sensitivity analysis (p15) because it is not unreasonable to consider a 20% fall in metal prices (perhaps that is not enough) scenario.

Table 9, metals price -20%, NPV $724m, that makes sense to me.

Table 10, metals price -20%, NPV 99.8% versus 134.4% base case.

Charts 6 & 7. The legend shows metal price in light blue but that doesn't appear to be plotted on those charts. Anyway, it's in the table.