Depends what the HPMSM PFS actually entails - it might be a bit more involved, i.e. includes some test work / trial or proof of concept, which might be a necessity of getting a battery deal agreed to (given our unique flow sheet).
That is my theory - but it is just a theory.
Then it makes sense to roll the expansion capex into this too.
Next train station: "$3-City", page-362
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