Well the payback period would be roughly 4 years, but that isn't a measure of the profitability of the investment, i.e. hypothetically after 4 years you would have all your initial capital back (ignoring TVM) PLUS you would outright own 10% of a HPAL plant.
That said, the payback period is higher than the deals they have done with Tsingshan, which I think were around 2.7 years, but this is a producing asset with, I assume, off takes in place.
Well the payback period would be roughly 4 years, but that isn't...
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