PFS, page-38

Ah ok grizzle, I looked at the screenshot, 29th Jan. I'm sure it had something to do with Deutschebank, you can see it's cropped there at the sides.
Personally, I put more weight in their estimates than those of the likes of Macquarie etc. Just my opinion, either/or, makes a compelling case for how difficult it is to achieve that "lowest quartile" production costings.

However, we did it in the scoping studies. Let's run with it! The developer of LMax made very innovative advances in the Zinc processing field. With a hydromettalurgic approach.

This is not LIT we're are talking about, in fact they have intimate knowledge of the LMax process and are now desperate to get their hands on it. Because it stacks up.

If you are interested, have a dig around into the Activox process, developed by Gary Johnson (LPD chairman). He's been there and done all this before. LMax has been in development for years now and it's specific to Micas. Always has been and we need it.