You make a good (but misinformed) point but the 'third party' in Wuhan modified their pilot plant and process to exactly what Volt will use at Bunyu in the future.
How it was done was exactly what the 'very large customer' requested, so your point that 'no end user signing financial or legal binding supply agreements' is just wrong and we will see proof of this by March.
Not every company has the luxury of building a mine and plant costing tens/hundreds of millions like you suggest, it's just completely unrealistic.
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