Ann: Heads of Agreement signed for Indian and global markets, page-46

I'm confused how they are going to ship wet product ('wmt' - wet metric tonne) into India which is a very price conscious market with big local production.
From a simple google search 20 microns is just one local producer that services the ceramics industry https://www.20microns.com/ producing a vitro bright kaolin for the ceramics industry which has low iron and titanium content with firing L value 96*

This 'non-binding' agreement is for the Great White CRM (stage 2-4) so I guess 150m capex later? The 'non-binding' agreement states first shipment start of 2025 i.e. in just over 12 months? I was under the impression they were first targeting a 50,000 tonne per annum plant being the Great White KCM? How will ADN finance, build and commission the Great White CRM in the next 12 months?

Fired brightness of 92 and iron content of 0.5% doesn't seem to stack up against local production..... I am confused!!