Ann: Iluka 2022 Full Year Results Presentation, page-13

I read somewhere that they would like to generate licensing revenue from use of the process by other sand miners. I don't know how easy it will be to protect the IP, but I would envisage it is rather special skills of the personnel operating the equipment in addition to maybe some novel equipment to be developed over time.

Maybe that revenue stream could be substantial over the interval before the technique (if successful) becomes common knowledge, so the project is partly R&D oriented.

I don't imagine huge pieces of equipment involved.