I think this is unnecessarily alarmist and not strictly...

I think this is unnecessarily alarmist and not strictly accurate. For starters which "peers" are we talking about and what scrutiny has been applied to their opex projections? How will their numbers look if understated and meet hxg with the confident reductions to come theirs. And, remember it's a very bespoke product with a whole bunch of geo-political and environmental issues at play which aren't all accurately caught up in projections. Contrary to your assertions this is precisely why HXG are on the right track albeit on a slightly longer time line than many would've liked