SP, page-22

@WhatsTheTip
Yeah but (as we Aussies are fond of saying), DSO was part of the plan (an option) which KM has basically now (as per quote May 25) ruled out when it was (in Apr) still an option - and I stress ... an option. Not at all concerned with project IRR (always has been spectacular) or even cash flow or even the project NPV ... DSO is/was a small piece only. Obviously with SC at these levels DSO a nice "starter" revenue stream ... and its not like we lose that ore ... we can deal with it later.

Looking forward to the DFS and what they decide with the modular DMS units - Muller's thinking it can lead to mjuch earlier production - which for me it probably better than the DSO option.

from MAy 25 Interview.

"when the DFS comes out, the capital intensity is pretty much going to stay the same. We're not going to see a large increase in capital intensity. We are adding a couple of things. I spoke before in the previous release, about a modular unit that we're installing and really the reason for that is, once we break ground, its about a 12 - 14 months period during construction before we see spodumene concentrate hitting the deck. These modular units are prefab and being erected on site within a couple of weeks, within 6 – 7 weeks we can have them up and running. That's very early cash flow opportunity for us. That adds a bit of capex as well, but in terms of how we're going to fund it, the first one is, we want to see how much cash flow we can generate from early production activities"