Scaling over time to prove and tweak the process has always been...

Scaling over time to prove and tweak the process has always been the plan - see the figure below from an older presentation.

The timings have certainly changed a bit with the advent of Covid….and so too, the location of the Pilot Plant. They have outlined going from bench scale to Pilot scale and are now at Demonstration Plant scale. Then it’s a matter of going commercial - as the pressure from Offtakers for volume has necessitated a decision to skip the “Small Project” stage and go straight to Large Commercial.

Each step has had to be proven with high confidence before going to the next level of scale. It has taken more time than initially expected when we were in a pre-Covid world but, as you would understand, when you are a pioneer and doing something new in a particular space, you need to ensure that you get it right and tick every box along the way. If you miss one or make a mistake, the steps backwards are very damaging. I, for one, would much prefer taking the time to get things right and build a solid foundation rather than stick to a timeframe and make costly blunders. I see this as a big way to protect and deliver the ultimate upside in the SP.