ArchiX, 

I like your spreadsheet. The only thing, I don’t think LAC will be able to maintain 100% ownership so split 60/40 or 70/30 will affect SP a bit ,still looking good.

 I also have to correct myself – that $350 mil will go long way to finance stage 1 , but there is stage 2 to finance, that where partnership comes in, plus LAC might have second offering by that time. Regardless, future looks bright. Go LAC.