The BOOT component has been there since the DFS in 2015, but it has morphed since then with all the rejigging that SMS etc have done to make it acceptable to financiers. Maybe because the cheap Chinese money, in exchange for IP, left?
In 2019 the two stage capex was reduced to one. Have just reread that announcement and the option for a 2nd stage wasn't discounted so maybe that could still happen.
In the current climate I'm wondering if the pigment plant could be built at a later date and TNG initially sell the unrefined Ti product from Tivan?
Ann: TNG Mount Peake Project - Capital Expenditure Update, page-234
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