From memory I don’t think the capex was significantly different between the CRM and PRM configuration so I still expect the CAPEX to be $100m plus assuming CRM is now a core product from day 1.
I think the big variable we still have that could influence the uDFS is HRM.
If and it’s a big if, we can get a starter plant or phase 1a or whatever they want to call it that can focus solely on this the CAPEX is a lot lower and the margin a lot higher which would mean early cashflow going towards the funding of the CRM configured plant.
However I think this unlikely give the recent presentations having a key focus on porcelains / CRM products.
From memory I don’t think the capex was significantly different...
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