It's difficult or impossible to receive bank finance for new process tech without a demonstration plant or larger in order to prove process, costs and lower risk. The tonnage EMH also want is probably too big so would need to be staged and may not be economic. There are other avenues but this is probably the main reason.
They over cooked the scoping study imo. I don't see a reason the sp should break new highs, average return on capital even with no tax. Reckon they will change scope again to make it more attractive.
Great read about EMH, page-104
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