Once we have our dfs witihin second half of 2017 and feedstock...

Once we have our dfs witihin second half of 2017 and feedstock jorc I believe the sp will start to move bigger. Closer to the Phase 1 Lmax which has 3,000 premium quality 99.9% tonnes of virtually pure margin due to byproducts, ie $40-$64m, it will be game on. whether the market builds that into the price early or not remains to be seen. the dfs I think will be game changer as it may allow us to borrow money or get a strong investor into the register. alternatively a good outcome from lemare could trigger the sp, it will lift our value and as an option we could sell it to gxy or nemaska etc to fund Phase 1 eliminating further dilution. So it's hard to predict when the sp moves but we know there are many news flow expected that can trigger major SP rerates along the way this calendar year alone. Cheers