The write up says that it does not require conversion or...

The write up says that it does not require conversion or de-conversion (to UF₆) so presumably its feedstock is U₃O₈ - still has to produce UO₂ or metallic U for fabrication. As you say this is about where SLX were in the 1990's - if its got any legs to it then will possibly be a SLX T/O since in the same location (Lucas Heights) and no doubt subject to the same ANSTO oversight. I guess it will all come down to the enrichment factors - officially SLX say 2 -20 but the South Australian Royal Commission - Fitch report indicated (by working numbers backward) that SLX enrichment factor was about 5 - that's quite an achievement (if correct) since centrifuge is only about 1.4. It's quite a big step to achieve enrichment factors (if correct) competitive to SLX and to get a new technology up from TRL/1 to TRL/6 (as we know only too well)