Overly optomistic forecasts in annual report, page-35

Lol I was going to give you the benefit of the doubt until this comment. Clearly shows you are unresearched.

TAW 2 year offtake locked at US$880 +/- $15 for grade variance. GXY been receiving greater than $900 all year.

MIN have disclosed c. $940/t for 6% coming from Mt Marion.

There is disclosures from inside China of spod being traded domestically at >US$1,000 excluding VAT.

Will the price of spod go down. Yes it will, but $550 is too low, especially for any protracted period. Remember that the DFS is done on LOM averages not static price points. US$550 would indicate Hydroxide selling for around $11-12k/t in my opinion and we are still a long way from that and unlikely to reach that anytime soon.

You also have to remember that an NPV favours earlier years. So that means any years at the start of LOM that pricing is higher than DFS pricing has a greater impact than any later years lower than the assumed average price.