HPA from Kaolin in WA Massively undervalued...potential multi bagger!, page-367

Thanks all, particularly @Kaffetasse for his insights. I find the comparison between FYI, ADN and ATC quite interesting.

It does seem that ATC has fallen into a bit of a hole over the financing of their Malaysian plant - one has to remember there is an unknown, experimental edge to this ground breaking tech. That is why the DSO route taken by ADN seems so attractive (and also apparently by the market with its 5 bag move already)
So why can't FYI do a bit of DSO. According to Andromeda they need $8 mill to get started, then proceed to benefaction for 28 mill in year two, and do the full HPA thing down the track. After all if you have 100 years of mine supply, what's the point of sitting on it.

I do grant you @VMC that the production of 4N ++ HPA is the goal, and if the capital can be found on good terms the hi tech route gets you there first.
A4N is also an interesting (but $90 mill capper) prospect, if only they would disclose their 'industrial feedstock' My theory is it is xxxx cans, collected on the day after Origin.