Does this mean that they have spent $1.2m on the construction cost (whatever that means) of a pilot plant, just to see if it works, before spending several more $m on a bigger one? Was there nowhere else in Australia or the world they could just send a sample of clean NCu for testing? Bizarre.
At least we seem to have the answer as to why, despite there apparently being much competition from purchasers to get their hands on the premium price commanding NCu, they aren't selling it by the truckload - impurities.
And why is it a milestone? It's not a milestone to complete the 3mtpa plant, as it isn't necessary for the plant and was never part of the plan. Much more of a sidetrack, IMO.
CDU Price at posting:
$1.70 Sentiment: Sell Disclosure: Not Held