Great summary. The future cash flows arising out of this project...

Great summary. 

The future cash flows arising out of this project are massive - even under a conservative scenario if we get to production, that's a six, seven or eight figure profits for those that bought in the early days. 

I think that most agree that if we get to production, these massive cash flows will be realised. So it's clear the only reasons for today's market cap is that the market is discounting these flows for perceived risk. And let's be honest, there are risks involved with this project... plenty. There're all sorts of things that can go wrong. 

At the end of the day though, this announcement is a big de-risking event. It's a third party confirming exactly what the company's been saying for the past few years, i.e. the fundamentals are in place to support a sound, highly profitable project. 

Whoever you are, whatever your risk profile, in the aftermath of this announcement, KFE is objectively a less risky proposition than it was at the beginning of this week. 

Will be fascinating to see how the market responds, and whether we can attract that next wave of investors.