Ann: Investor Presentation, page-24

The only fly in the ointment is that since the RWD scoping study was published the potential SOP yield for the Lake Disappointment project has increased over 30 fold. The scoping study assumed a 20% yield on 24MT; the drainable resource is actually > 150Mt. This is why the 13 year mine life used in the comparison is way out.
For the sake of the moderators, this isn't ramping another stock, it is pointing out the error in the analysis by Hartleys.
Of course this doesn't exclude the fact that APC may be undervalued rather it means that RWD is massively undervalued.
The RWD feasibility study, due in May, will re-write the comparison tables and NPV numbers.

FRedbeard has alluded to some alternative facts in today's KLL presentation. APC may have used scoping study figures, which in the case of RWD are out of date, our friends at KLL have used chosen to use some comparative data that isn't the data that RWD has published (trench length) or have chosen to use question marks rather than use data that has been published. (K recovery).

Good luck.