I am particularly interested to see how this consolidation of...

I am particularly interested to see how this consolidation of the of the LEPs and geothermal plants identified in the Bridging Study will lower Vulcan's CAPEX & OPEX.

Vulcan already had one of the industry's lowest forecast OPEX, with the revenue generated via the electricity/heat offtakes. However, it will be very welcomed by financiers if they can further reduce the CAPEX to improve the IRR & Payback period.

I'd be staggered if the European Investment Bank (EIB) doesn't publicly announce their support & provide debt financing to this project similar to what they are providing to Talga. This is the greenest lithium project in Europe and well aligned to their mandate.

Given the procession of leading German and EU Government officials that have visited Insheim over the years, I think there will be a lot of jockeying by officials to be on-site for the official launch when Vulcan bring the LEOP online in October and produce the fist tonnes of Lithium Chloride in Europe. Hopefully that will increase the momentum for Vulcan to access public funds and finalising the debt and equity financing package on favourable terms.