I tend to see this differently. There are 3 key values to the...

I tend to see this differently. There are 3 key values to the loan approval that had significantly added value to INR. 1. The loan was offered at 10 year Bond rate. If INR was to borrow money at commercial rates, the rate could potentially be a few % points higher than the 10 years bond rate. $1B over a 10 year period, at say 3.5% lower rate would work out to be worth $300mil discounted to today's value or approximately $0.14/share. 2. This conditional approval pretty much completely de-risked the funding risk of the project. It is one of the biggest steps any Develop takes towards production. This de-risking step is worth significant value to INR shareholders (would this be worth 5%, 10% or 20% of project NPV? I guess this is upto each of us to interpret). 3. INR's resource is significantly larger than the 60mt planned for the mining plan to produce 22.5ktpa of lithium carbonate. This loan creates significant certainty on project funding, thus freeing up INR to consider deploying some of the existing cash to expand drilling for stage 2 of the project. I would love to hear what others think the size of future stage 2 would be and why....