so cmon, if i could tap your knowledge for a minute, the way i...

so cmon, if i could tap your knowledge for a minute, the way i understand the above from a finance perspective is:

1P reserves, discounted 10% (as per the report) - $20m (approx) gross, so about $6-6.5m net AKK
meaning first tranche finance could come through at about that level.

BUT - once Kaiser/Nemo production results are known (not sure on the timeframe to qualify as known - 90-120 days of production?) the 1P reserves will change (to the upside)?

is that about right or too simple? i.e. they will loan against the 1P discounted 10%?