If they do what they say they will reduce many of those risks. They have given themselves a conservative timeline unlike SO4 and have most of the red tape sorted out up front. No race mentality which is a good thing. They have allowed plenty of time under the sun (as per D&D presentation) so hopefully will avoid the salt harvest issue SO4 is facing. They have revised their Fx and SOP pricing to reduce financial risk. Time will tell if it’s far enough in the right direction from the DFS, it’s an in exact science. They appear to have a solid contracting plan in place to avoid capital blowouts. As per KLL there is no guarantee they won’t need extra bores, models are just that. Will they have a operating cost blow out like KLL has just announced? Hard to know. The DFS assumed a 73 cent royalty but that was raised to 2.5% in the FEED. KLL have recently mentioned a higher figure but not confirmed. There is no NT royalty in the DFS but that will almost certainly change if the outstanding leases have a right to negotiate. That will be 1.25-1.5%. They have a bigger operation than KLL and that increase in scale should help with operating costs.
The time under sun is supposed to commence Q4 2021, presumably ponds are being built?
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