DFS, page-15

I don't disagree, but I don't think the market values resource size so much as production quantities or ultimately annual profit.

We could end up with something massive but if we can only pull small quantities out of the ground to sell, the market won't value the resource size since we can't get to it in a timely manner anyway. HOOPZ analysis shows we've already got a bigger M&I resource than LTR but the market won't value it as highly, as their production and ultimately profit is expected to be higher, even though their life of mine would be significantly shorter than ours. This would change the closer they get to end of life though.

While the SP will look amazing even if we were to just stick with 20k tpa, increasing that production will, IMO, have the most material impact on our SP in future. At least far more than increasing our resource size.