James Marsh - MD Interviews, page-424

One main point no one has touched on, which James somewhat clarified in the presentation, was that the kaolin required for the HRM product is a by-product of the waste from preparing CRM. My understanding of what he described was that for every tonne of kaolin dug up, the highest purity proportion of that will be processed to be used for CRM/PRM, a portion will be waste sand (that can be used as overfill or sold as construction sand potentially), and the remainder "waste" kaolin is used to produce HRM.

I suspect they would be surely hanging onto this HRM feed stock for when they get a commercial deal - so they wouldn't have to dig up any additional tonnes to produce HRM and would not be exceeding the total mining quantity allowed by the mining lease

at a price point ~3k per tonne potentially, and this is pure speculation as we don't know what proportion of HRM is possible per tonne dug up at GW, if you could get 100ktpa it would be an additional revenue stream of $300m per annum (validated efficacy and demand of product pending of course)