What makes you think Iluka can process anything VMS has? They can't do anything with DSO, nor would it be anywhere near profitable to transport ore 250km/500km round trip.
If they need to produce MREC ($1.xb aud, assuming not ionic) they'll need to build a processing facility.. even then can Iluka do anything with the MREC??? No evidence that this is the case.
Ann: Gold Coast Investment Showcase June 2024 Presentation, page-7
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