I still don't see how you can compare the bauxite market to the...

I still don't see how you can compare the bauxite market to the aluminium fluoride market. In bauxite, you're competing with third world countries who just need to dig it out of the ground and ship it to China. Hard to compete with that... The aluminium fluoride price has been trending up from USD$1200 to USD$1700 over the last 2 years. So I dispute your point that China can simply undercut our price, or this price increase would not have happened. I think you've still got your bulk commodity hat on.

You're right, we will need advance sales orders, more likely an offtake agreement (including partial customer finance of the AUD$59m full scale plant. But the customers who can provide the orders and finance are awaiting the production samples from our pilot plant, which they should have in 3 or 4 months.