General Discussion on AAU, page-89

So, based on current official released financials, stated NPV etc. If we purely looked at thesingle open pit mine x6 years:

Leveraging some rough calcs from someone on this thread a couple weeks back (thank you I love it, apologies I can't recall who posted)
- 1) SS/PFS performed, noofftakes, no finance = 10-20% of NPV *****we should hope for a near term re-rate to ~11c - 12c?****
+++ Notwithstanding that we all hope for further positive announcements to increase resources, improve metallurgy, suggest new mine sites etc.
- 2) DFS/BFS pilot plant noofftakes no finance = 15-30% of NPV (coming Sep 2022) *****we could hope for re-rate to ~14c - 16c?****
- 3) Either of the abovewith offtakes secured = 25-40% (coming Oct-Dec 2022 assumed)
- 4) Any of the above withfinance secured = 35-50% (coming Nov 2022) *****we could hope for re-rate to ~20 - 25cc?****
- 5) in construction nearterm production = 50-75% (all of 2023)

- Am I being optimistic?
- Am I being too conservative?
- Am I thinking way too much purely out of excitement? (I can answer this for you... Yes.)

Of-course, I have no idea how to include 'Russia sentiment / impact' so I haven't tried... hence the softer 'near term' comment rather than being specific.

*Note: I dare not include my crappy calculations, but I have tried to factor for ~60m options kicking ahead of 2) and 4) diluting things as well. And this is definitely not advice. Please DYOR. Though I will keep a copy of this post for my own future comparison interests sake!