I am not assuming anything. I am factoring in plenty of fat and...

I am not assuming anything.

I am factoring in plenty of fat and saying its $110m to be paid back by Sept 2020.

18mths at full production and worst case offtake pricing gives us ~ $92 ebitda (US) (thats roughly 45% drop in offtake prices needed for this scenario).

12 mth at full production and best case pricing gives us $150m ebitda (US).

18 mths at say 80% production, and roughly 15% less than current market is paying gives.... wait for it, over $200m earnings.

So yeah, we don't need to assume anything like the best case scenario, to have wriggle room on $110m debt. And we've already started paying it down right?