East Coast Research: Analyst Report for Impact Minerals - HPA Lake Hope Project, page-130

Impact minerals estimates the capex for the 10000 tpa production of HPA at 252 mil AUD. Thats actually pretty cheap considering they could start with a stage 1 of 2000 tpa HPA with a capex much lower. ( even if it's not one fifth but one fourth of the 252 mil AUD thats about 63 mil AUD for a 2000 tpa HPA operation). Mike mentioned a couple of times they might get the capex even further down with the new LTL low temperature leech approach. It seems to be pretty straightforward and much easier and cheaper than alpha HPAs solvent extraction process/capex. After all it's just pressure and low temperature and later on calcining, nothing complex like Alpha HPAs approach. If they can get government support/funding for a hypothetical first stage 1 with 2000 tons per year of HPA- this would be great. Plus they can choose where to build the plant, a big plus after all. I also expect a lot of interest of the bigger boys after the release of the PFS later on this year.