Alternatively, a correctly sized HPAl plant might do the job....

Alternatively, a correctly sized HPAl plant might do the job. What we will have is a tiny company and massive resource. MLX will hold a few shares, retail investors a few, and instos. a few. The initial participants will only really act to prove the project up sufficiently till a major partner comes into the game after proving up a small plant on higher grade. I.e. some looking for scale up potential. There will be players, majors who want to secure a long-term Nickel source. If all people forecast about batteries transpires. All that's happening here is MLX is finding a way to get around their own capital constraint based on size. The same challenge with Rentails in the wings.
I expect (initial) investors will agree the time/ timing is right WRT Ni.

All IMVHO