Ann: Update on Strategic Process, page-21

AMN can use Beyondie to demo their MacKay flowsheet. Nobody will finance MacKay until a flowsheet has been successfully demonstrated in WA.
MacKay is probably close to $1B now.
Better to lose a small amount on Beyondie than $1B on Mackay.
Luckily for AMN they have managed to maintain a reasonable market cap, partly on the back of their WA1 investment.
Problem for AMN is they don’t appear to have any greater expertise in processing potash than the guys who were at Kalium.