It’s now all down to the current work they are doing on the plant. They specifically mention the flotation. If they can’t sort this out it will get ugly. it will be VA leaving two WA SOP plants in need of alternative processing +/- pond management.
At this point in time the expansion is irrelevant. Ditto the A$1400/T SOP price.
The question in my mind is how up front are they being about the remaining plant problems? Hopefully more upfront than Rudy’s $50M cap raise to fund the 120Ktpa expansion which clearly was about much more than an expansion.
It’s also worth remembering the expansion was about getting costs down but with $50M has been raised and the projected costs have blown out even further.
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