Cynically I wonder if they are they going into Sapphire because they can't get off takes elsewhere, or is it to seize the opportunity to gain more of the value chain.
I guess the real question is, which market is easier to break into, sapphire or HPA? Presumably the former, selling a finished(ish) product rather than a feedstock for a chemical process which may require more qualification (possibly using product from the large scale plant, which needs off takes to be funded, thus a dilemma).
For me, I am trusting that Orica and AustralianSuper have done their due diligence (especially Orica who are industry experts rather than simply analysts).
All IMO, please DYOR and GLTAH
I would be keen to hear the thoughts of others comparing the sapphire market to the HPA market (in terms of being a new entrant trying to break in).
Ann: $40M Strategic Placement to Accelerate Alpha Sapphire, page-30
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