Funding Dynamics

Not a cross promotion as I believe this is representative of broader market funding dynamics.
Both projects are similar in their base case ROI (~18%), also similar to OZL's Nico Babel deposit(fully commited by a set if synicated banks already funding OZL's operations). NC1 benefits in scale, and scalability, if and when Ni costs increase. Governments are and will increasingly sujpport these mines as a matter of national supply security. You are seeing that with public announcements from the US DoD in direct funding mines outside of the US.

Yes, big Capex, also big metrics all round. In a world where it takes 10+ years to bring a deposit of this scale/tenor to market....