I thought the discussions with offtakers were preliminary, to determine the future demand, both in terms of deal structure, size and price. This drives the viability of different options at different output volumes.
The big boys would also be able to balance sheet the project and build larger than E25 could in their own.i don't think so.
Again assuming everything goes as planned, with the 3x ore production, the sp should be around $8-$10.
With further expansion on the cards, a large premium will be needed for a successful takeover.
99.95% High Purity Manganese, page-38
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