Risk vrs Potential

The main bottle neck I can see for this project is The road to market.

The first, and sizeable client, will be the gas plant that supports the coppermine. So in that sense we have a very limited downside.

But given the potential size of this asset, we need more offtake. How will this materialise? What is the connection to these markets? Dies it require massive pipeline infrastructure? What is our negotiating position, given we are landlocked?

If we have clear perspective of these issues then it underpinns true upside for this asset.

Thereis still some political risk, as there always will be. But in principle this is a win for everyone, on all levels.

In terms of geology, as the tests will confirm, the risk seems limited.

So, in the end, the value in my opinion comes from the route to market & sufficient access to clients at fair pricing.

Does anyone have data/views on that million $ question?