The 5N referred to is for the Aluminium nitrate; it's a product...

The 5N referred to is for the Aluminium nitrate; it's a product created before any drying and milling stage, so it is 7x the weight of what most people think of as HPA. From memory, they are the only producer globally that can create it at scale.
The demand volume weighted average simply tells you that based on the outreach conducted, customers are looking to buy it in such bulk that it will be priced at the lower end of the range. This is good news, as it means a product that is 7x the weight with the same amount of aluminium as traditional HPA - it's equal to the selling HPA for $123kg (HPA Eq** column).

This has always traded at a premium and will continue to do so IMO, as they are the leaders in the field. It's because the execution has been exemplary; and most things Seckhold is involved in do well for investors. Rimas is also highly regarded.

How viable would this project have been without government investment? Recently, they've had investment from Orica and Australian Super, so it's not all government "handouts". Of course, it's not unusual for governments of all persuasions in the Western world to help fund new industries. I'd say it's viable, but I've been following them closely for a long time and I'm biased

I've lost count of how many other companies have dangled the HPA carrot to shareholders only to pivot or fail. This company is the only one likely to make it, IMO; the amount of work that needs to go into marketing and product qualification is so monumental that it's a four-year moat all on its own. It's not a commodity and can't be sold as such; it's a specialist chemical. These guys are miles ahead of everyone.

DYOR - Good luck all