Ann: FYI Resources to Develop HPA Pilot Plant, page-39

my friend, dcfs can't be used to reliably price this end of the market. it is a common error by amateurs, who believe a junior should be trading at it's NPV value (or risk-adjusted NPV). i do apologise that you interpret the remarks as condescending, although perhaps you can see it from a more productive perspective. inexperience begets counsel.

as i said previously, a rising tide will lift all boats. all eyes are on ATC, and if they can finalise their funding, i do expect a boost of confidence to the hpa juniors.