dfs clarification, page-4

Thanks for sharing Simon.

Good to have this clarification - and it makes you wonder why HQ referred to the pending DFS for so long, until fairly recently, where it has been downgraded to just a FS.

The conundrum now, going forward, is the call on whether or not the lack of a DFS will impact the prospect of funding on reasonable terms.

The Ross DFS is not really a DFS, because it does not include the CPP. This is required, for feasibility reasons, to be spread across the larger Lance resource.

Much of the larger Lance resource requires conversion to ensure 'definitive' feasibility - almost another 23m lbs, in fact.

The question is, how will the level of uncertainty entailed in a substntial non-converted resource impact both the achievability and terms of a mine construction funding package. This is the KEY issue now.