“ However I don't think it is as simple as that and potential...

“ However I don't think it is as simple as that and potential revenue probably a lot less...”

You raise some very good points, and I’ll add another, we’d have to form some sort of JV, if say 50/50 we’d only get half the profits.

Gallium is quoted at 4N purity (99.99%) so as you say we’d have to convert our Chloride liquid into a form that’s required by buyers. A quick search show many metal chlorides decompose into metal & chlorine gas at high temperatures, though not so much with Gallium which would require electrolysis, I’d assume Indium would have expertise in that.

I don’t know how much supply of scrap they have available, however you’d assume it would be significant for Indium to get involved with us. In the crux interview Michael said the US uses 400-500 tonnes pa and we could address most of their needs, insinuating we’d have enough supply to do that. Of course there is also export.

Another avenue is to further purify it to say 6N or beyond. The price rises significantly as the purity increases & our process seems to be very good at distilling off impurities as per the recent REE announcement.