Jeez tough crowd! A bit of healthy scepticism should always be...

Jeez tough crowd! A bit of healthy scepticism should always be valued but after all this is hotcopper - express anything but devotion and you get attacked. Even if you're a holder like I am.

Of course - but thats in the future. A similar (and correct) approach was taken by PLS with the stage 1/ stage 2 plant expansion for their Lithium project. Stage 2 has not occurred to this date due to the spodumene price crunch after 2018. Based on this im not getting excited over stage 2 NPVs until we get there.

Because I'd much rather focus on issues that could cause Mn prices to go down. If Mn goes up further in this supposed commodity super cycle then that's an added bonus. Don't be so sensitive champ!

Well for starters the updated PFS has an exchange rate of 0.70 (please correct me if i'm wrong) yet its currently sitting at 0.77. Now before you all jump at me saying this can change - thats the exact point. The Mn price could rocket up, the exchange rate could go down and make E25 amazing value. Who knows - but its better to focus on the PFS assumptions that are more exposed to changing for the worse.

Its too far out and there is no PFS or anything.