Ann: Lake Hope HPA Project WA PFS and Metallurgical Test Work Up, page-15

It would appear that the Scoping Study, 4N HPA production and the PFS are key milestones. If the SS is well supported with reagent costs, we should see an uplift in share price based on cheapest cost of production, however people don't usually buy on metallurgy unless the end to end recoveries are clear. What is apparent is that if you can extract 70% plus using H2S04 at low temperature, drop the silica out, then reduce the reactive cations to bugger all in the intermediate salt youre miles in front on cost and then it's the amount of rounds of HCl purification that determines purity and final cost. You would have to expect high purity with a couple of rounds of gas sparge at these low concentrations - the end to end extraction rate should put traditional Kaolin exctraction in the shade and with feed stock at 28% Al203 i'd say this will be a winner on cost and purity all IMHO. GLTAH.