We just like them are are waiting on offtakes and the CSIRO pilot sample run. Apart from the land purchases this is all I can see happening with this mega project. Lynas have started stockpiling some of thier products while the Chinese government builds a stock pile and cleans out the 100 or so illegal REO miners.
Imo there's no need to spend anymore than $5m on this project till it gets the full funding.
It's all about the Gold and base metals from here. We have fully paid for plants and mines with gold mostly hedged for the next year. Every Q we knock off 15-20,000 ounces of that hedge which allows us to rehedge when the POG stabilizes above $1800
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