in spite of Andrew Spinks..., page-25

You appear to be the hero we didn't want. Congratulations, you can read a balance sheet and extrapolate cash costs

- yes of course this company needs additional money
- yes it is likely to be at a discount to market, wherever that price will be at the time
- yes there will be dilution. Do we actually care? I don't anywhere near as much as you believe it matters.

If this company is up and running and pumpong out $20 - $50 - $100m EBITDA in increased production scenarios would any of us really care, NO, we wouldn't.

The NPV of this project alone is circa 10x the market cap of this company, implying that the market is giving this project a 10% chance of going ahead on currently forecasted economics. If it got even halfway there all owners would be happy.

Seriously, can you just go away, we don't need your insightful wisdom to point out the obvious, yes there is considerable risk in this project, we are all aware of that. But with that risk comes large return and most of us holders are betting that the current risk profile of the business does not match where the market is pricing it.

Now well done Sherlock, your analysis has finally been validated, but thrown in the bin as you do not appear to appreciate the relationship between risk and reward, which is what we are all betting on currently.