AVZ Peer Transparency, page-79

So many if's and but's.

All the existing producers were profitable at this price too if you look at their DFS. But we all know they are not.

Yeah they might ship higher SC numbers than 6. But that also means less tonnes produced. Recent met work was done on smaller grind size which means higher costs and energy usage so we will see how that all washes out.

No Sn credits factored in but that comes with increased capex and opex costs, so again we will wait for the wash out.

Tax and royalties likely negate all of that.

Also SS is done on a +/- 35% accuracy. Optimists will say the costs could be lower. Pessimist says they will be higher.

Just saying, it's not really a space to be excited about IMO and I can't see a 2 year delivery on commencement of operations.