Are you referring to Nico Young or Idaho Cobalt Operations?
ICO only needs around $100-150m for start up (the amount depending on the level of production they decide on). That's hardly a large amount of money for a significant project, especially when you compare it to the capex requirements of the laterite projects. Obviously that excludes the refinery but that's just an optional add on later on.
Ann: Research Analyst Site Visit Presentation October 2019, page-8
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