I think with current hydroxide prices 15-20% below the input...

I think with current hydroxide prices 15-20% below the input price in the DFS model the NPV spits out something closer to 950m..... so at current stage it could be considered heavily overpriced at the suggested merger value. The sensitivity analysis in the DFS indicates a 20% drop in contract price to the $49k value used yields an NPV of 880m I think... understand current spot prices are not an indication of what will prevail in the future and Capex could be considerably reduced but it somewhat demonstrates how sensitive the project is to pricing, which I guess all projects are. nonetheless hope all shareholders come out on top.