The 2021 PFS states: 'Preproduction capital requires a further investment of A$160 million in addition to use of existing infrastructure, processing plant and equipment at Savage River Operation.'
Reasonable to assume that this figure is closer to $200m now given inflation seen over past 2 years
This is why Grange is building its cash reserves as the initial capex is going to soak up circa $200m before production starts underground
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