Ann: LMG awards pre-feasibility study for 100,000 tpa plant, page-56

Maybe it is interesting but perhaps not...

Alumino thermite is a process of extracting metals by reduction of a metal oxide to form metal using aluminium powder, the aluminium acts as a reducing agent. It is an exothermic reaction which liberates a large amount of heat. Practically, this method can be used to reduce all the metallic oxides, with oxide of magnesium being the only exception.

Fe₂O₃, B₂O₃, NiO, V₂O₅, MoO₃, Nb₂O₅. Mn, Si, and Cr are good contenders for the Alumino thermite process. Magnesium production seems to be the reverse example of the world looks like a nail to a man with a hammer.

Therefore not clear how aluminium - coined as electricity in solid form - and electricity cost going forward is never going to be get lower - how this could be an existential issue for LMG.

What I am more interested in is what will shareholders actually own going forward. So far it looks to be only the royalty stream from the licensing of use of the tech and the local 10,000 tpa plant. I do not want to own part of a business that is sized such that the activities fit inside the limit of competency of the Board, or a Board with a lucky rabbit's-foot rubbing approach to large scale business i.e. nervous about very big numbers.
For example Elon started Paypal and could then see a clear link to making EV (not). Then from EV to rockets as the clear link is that they both move (not). The word required is ingenuity and opportunistic. Will LMG become a shell of boffins fiddling around the edges of the tech?

By comparison LMG has to cookie-cut the same unitized 1,000 t.p.a tech multiple times in the factory and then multiply the factory everywhere. Be in no doubt Bechtel will pour over the whole process and patents with a fine toothed comb to find any angle to claim a new patent. If you don't like it - sue. Yeah right.