Renard - It is the attraction of a Brazil capex price tag, in a...

Renard - It is the attraction of a Brazil capex price tag, in a North American address .

Every other North American hard rock developer has a larger capex pill to swallow.

Simplest view is Apple v Apple. with a polish .
LRS for $560m for its MRE + cheap capex requirements (floating higher with the price of PLS scrip)

But add the confidence of longevity in Canada.
V Brazil nationalism

Also whatever it saves us 500m , is book value to start with to any other peer to peer in Canada.

Then there is the value of the purchase of a low finance , approvals risk, to barter with. When other peers in Canada might struggle .

We should be worth no less than LRS, but more for the longevity of the jurisdiction confidence, and low risk approvals and finance runway .