Thank you for laying this out. I agree there is due diligence...

Thank you for laying this out. I agree there is due diligence ongoing and a fair bit more to come before production. Certainly agree a shipping solution is not imminent.

Where I differ to your line of thought is as follows:

1.Investment:

Tme invested, absolutely. It's a credit to the team how much effort has gone into lining up stakeholders.

Capital invested, not so much. I wouldn't say it's a big dollars paid-in from either of the 20% shareholders. A few spins of the wheel at most.

2.Risk:

Where's the biggest risk? Getting to production/shipment or being caught under-exposured as a 20% shareholders who could make a general offer immediately for VWAP+ premium? $50-70million could take DRX out on Monday.

Or is the bigger risk to other players who have nicely managed silica supply volumes? What's it worth to them, the chance someone else may enter the market?

As I've said before on these boards, we all need to look up at the shareholders more and not just look down at the hard stuff in the ground.