$13.20 Valuation, page-127

Sally.

"But when CLQ says each autoclave is sufficent for the PFS, and when they say that each autoclave can run 2.5 mta, I am going to be very, very surprised if they are mistaken about this, as it is a materially important point about the Sunrise project."

Can you point to the announcement that makes that claim? As you rightly note, this is a material issue.

If each autoclave is capable of 2.5Mtpa, this would imply that for 80% of the time, one of the autoclaves would be off-line. I've assumed 80% uptime, the remaining 20% being used for maintenance, etc - this is a reasonable thumbsuck for uptime but it may be slightly higher. This 'design' would be considered very poor engineering practice and very inefficient use of capital. I'd be willing to bet that both units will be in continuous operation (yes 24/7) and each one would be capable of a minimum of 1.25 Mtpa (excluding any design factors).

However, if Cleanteq have indeed made this claim in an announcement, then who am I to argue.