The way I see it

HXG has made a significant placement to MIN over $2m and Tribeca over $2m and other Insto's taking up significant no's.
With MIN set to produce concentrate Equivelant to 50000 tpa….. Stage I production with I suspect a margin of $5-800/ton. HXG is entitled to say 50% i.e. 25,ooo ton... HXG uses its pilot plant to first convince offtakers that it can produce a greatly enhanced product worth $15-30k/ton..they could also on a share basis get more product from MIN and get even a greater share.
It would be nice to know more detail on size and specefics of the pilot plant and most importantly the timeline for setup.

Directors and new shareholders are very cockey that this plant will produce some outstanding results. We shareholders will have to share the ride and with much diminished risk.

We ought to be in a position to get some fascinating forthcoming announcements.
Short term shareholders could be "throwing the baby out with the bathwater"

I suspect there may be a few revolving doors here!!