If IX tech does not work outright then this trade plays out in...

If IX tech does not work outright then this trade plays out in current quarter. This is Ideal case.

But I think it is most likely the IX tech works to sub par performance. Because if you look at the IX tech used at Beverly project with similar high contaminant levels in the ground water, the key condition for IX there is to maintain relatively high U3O8 feed head grade (e.g 200ppm+). Previously Uranium one had ~50ppm feed head grade from Honeymoon. BOE also implementing preconditioned water injection into the well field that can help with lowering the contaminants but the effectiveness remains open question. In this sub par performance scenario it will be slower to play out, the usual cashflow drain and company doing cap raising. I am looking at 1-2 years potential period for this to play out.