Ann: Vital Secures C$5M Funding Facility with Prairiescan, page-34

Towards the end of the interview Geoff mentions VML will receive (at current prices) $75 per KG (REETEC will receive the other $75 per KG with the 50/50 split). $75 per KG represents 75 million in revenue with start up of 1,000 tonnes; this is essentially 10% of LYC revenue. So 10% of LYC MC would equate to VML having a MC of 800 million, therefore our SP should be 20c. If you were to look forward to 2025 with the 5,000 tonnes, this would equate to a SP of $1 if pricing remained the same. These are just my calculations when we are comparing us with LYC. Haven't been able to work out profit differences between the two companies, but hoping VML operates with greater margins.