@nsethi1210I've read through this a couple of times, I have one...

@nsethi1210

I've read through this a couple of times, I have one main question.

You calculate the target stock prices with what I assume is the current SOI figure.
You also calculate the cost of the mine and the trains etc in excess of 1 billion dollars.

What I can't find is the way this $1 billion plus is raised and what effect that would have on the SOI via dilution and hence the target stock price. Obviously there is a partner involved here that will reduce the expense but the calculations seem to me to be done from the point of view of the full mine and infrastructure etc already being there.

If you expect full debt financing, what interest rate etc do you account for? I get that with a fast pay back time (covenants allowing) and a huge life of mine it's not really that big a deal in the scheme of things, but it sort of really does assume everything goes extremely well at what can be a difficult commissioning period. If the mine cost is being paid for debt and the buildings will be complete 23-24 as per your calculations, then why is your share price target of US$330 from Jan 2023 not later once the risks of building are alleviated?