My take on it is that with the recently released announcement, they had shown that it is possible for MGT to proceed with an annual output of 2 million tonnes that would result in decent profit and prove that this project is viable, even with a small annual output. This doesn't even take into account utilising NextOre which should result in greater efficiencies and throughput.
Knowing that they can be profitable with 2mt p.a, they can then look at the incremental cost to produce each additional tonne, to find a good balance between cost and output, while keeping overall capex costs below $1 billion. They have said that the PFS will explain an ideal, optimised way forward which will hopefully improve on the 2mt p.a numbers and provide an even better overall result and profit.
I'm hoping they can produce something in the range of 4-8mt p.a, aided by NextOre technology, but even if they only achieve 2-3mt, it will still be a decent starting position.
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