The current build was originally targeting 90Ktpa and many were under the impression they could squeeze out 100Ktpa at no extra capital cost (the “debottle necking”).
Many would agree they are only adding 20Ktpa for the extra $45M.
The real kicker is the original BFS was $160M for the original 82Ktpa with an additional $125M to reach full scale at 164Ktpa.
The FEED took the 82 to 90 and the “debottle neck” to 100Ktpa.
Now they tell us that an extra 20 costs $45M when originally they could add 82Ktpa for $125M.
Easy to suggest they are making it up as they go.
The additions to the plant are relatively cheap, the majority of the costs are for bores, ponds and non-processing.
How much more can they add before the plant costs become very significant.
The non-plant costs won’t get any cheaper down the track because all future expansion is further East.
Is the current SOP price really that much better than the BFS to justify this current expansion rather than pursue the original plan?
I can see why some holders are frustrated.
The feasibility work at +/-15% was inaccurate for both capex and opex, particularly the capex.
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