Yes, economies of scale further kicks in, and profits increase. Expect IRR to be higher.
I also personally feel when they get to the 4mtpa configuration they would be exporting more than 6% grade spodumene (under WOF) as well given they will be in the underground section - the grades down there lend to that IMO. Greenbushes exports 6% grade spodumene for the battery market but also exports technical grade spodumene for high end markets that at times averages well above 6.5% Li20.
Anyway, all the best to yourselves.
All IMO
KV future speculations, page-90
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