Ann: PFS Confirms LD as a Globally Significant SOP Project, page-91

Oh my Panda/Sevo, you guys must be really worried now? Or haven't you noticed?

Have a look at the annual revenue from sales of SOP of $263.73million. Now they are making 407,000tpa right? So the rate being used is $263,700,000 divided by 407,000tpa = $647. Looks like they are assuming the average over 27 years kicks in from day 1. Whoops!!!

Looking at the same table if you use $500 the revenue is $203.75m. So EBITDA is $50m. Pay some tax on that. Not so rosy is it?

Again and again this fudges and messes the numbers trying to desperately to be the biggest.