The big question.....financing, page-23

we agree on most things NL, but I can't see this. I don't think the top 20 would have put their capital at risk at this point to sell at 55/60. Vanadium sector would have to have gone stone cold to leave so much upside on the table - largo market cap at $1.2b - post tax NPV here $850m, 43% IRR at V price 50% below today and without the mixed sulphide credits...I don't know why you would sell this at less than $500m before production or $1b after production