General comments/chat, page-21473

Yes James did mention 115kt OUTPUT, but you compared that to the PFS INPUT of 500kt.

You should compare it to the PFS output of 227kt.

He also mentioned that 115kt is for year 1, with ramp up to 227kt for year 2 and beyond so really it will have an immaterial impact on the NPV as that year 1 shortfall will be averaged over the LOM.

Secondly, you well know that the short shares can be reused many times over so that 30m short shares could have been and have been used many times over. Beachmat has shown that some days it makes up 50% or more of the volume.