GRV - Share price & chart discussion, page-259

From Resources Rising Star, 20 November 2020. I've highlighted for emphasis.

" Biddle explained that torbanite is not a shale oil or a coal. It is a mineral in its own right and that Alpha is the only “commercial” deposit left in Australia.
Torbanite’s usefulness comes from its ability to contain up to 650 litres of hydrocarbons per tonne, split into 60% bitumen and 40% light hydrocarbons.
And from that make-up, three high-value products can be produced - bitumen, light crude (a precursor to diesel) and activated carbon.
It turns out all of Australia’s bitumen needs of some 800,000tpa are now imported as oil refineries have been closing on a regular basis.
“We already have customers lined up for bitumen. In fact one of the customers is providing lab services for our bulk sampling program which will commence shortly,” Biddle said.
But the real kicker in the product mix is the activated carbon, a $US5 billion market growing at 10% a year. It is the front-line choice for emissions and water purification, all of which is a now a global obsession.
Alpha could produce high quality activated carbon as its porosity soars after the hydrocarbons are extracted. The alternative in the activated carbon stakes is to grow a lot more coconuts which does meet the sustainability agenda.
A relatively low-cost Alpha development would require a retort which would heat the torbanite to 600 degrees using technology that is well known.
Biddle plans to get a PFS out by mid-2021 and follow up with offtake and a final feasibility study by the end of 2021. It is a tight schedule but as Biddle noted, Alpha has been waiting for its day in the sun for 40 years.
It wasn’t lost on those at the conference that Biddle’s lithium work at Pilbara was about providing one of the key battery materials to power EV’s along the world’s roads. Now he is talking about providing the bitumen underneath, along with diesel for ICE engines, and activated carbon to keep our air and water clean."