No Production Until 2027...... If Ever, page-1374

I should add, because even though it has been mentioned a couple of times, it is quite significant... NPV8

The latest LKE projections used an NPV8 which I would have considered inappropriate for an Argentine project four years ago. NPV10 would be more appropriate in the past and is undoubtedly more appropriate in today's economic environment.

Of course if they used NPV10 yesterday's figures would have looked a whole lot worse. I am not privy to the rationale for that decision but I assume the numbers would have screamed project dead in the water.

Always read the fine print. There is nothing in the latest news that indicates to me that LKE has entered a conservative approach to market information. It is just far less optimistic than previously.