Cerenergy is their priority as it's the mature project and IMO they want the offtake agreement in place before releasing the DFS.
Hopefully they get that done in Q1 2024. Focus will then be on grant approval and financing of Cerenergy.
Silumina is a much longer play and it's still (outside of our lab) an unproven technology.
They have released the DFS to appease the market.
They need successful qualification from at least one of their NDA partners. Qualification will take 12-18 months, though now being only a silicone additive might reduce that. Then they need offtake in place before seriously seeking finance and grant approvals.
I'll ask for clarification around the pilot plant commissioning delays.
It was pleasing to see the capex of €122.5m (USD135m) not massively blow out past the PFS estimate of USD100m.
I've been concerned about this risk since the days of the Johor HPA plant's four fold capex blow out.
Cerenergy is their priority as it's the mature project and IMO...
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