PFS page 35 The PFS model is based solely on 4N HPA production...

PFS
page 35
The PFS model is based solely on 4N HPA production and no by-product sales are considered
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the bolding is mine
did anybody else notice this ?
as 'this' would reduce the costs of producing the HPA
however it was not included in the sales/costs etc
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and
there is  page 14  in the pdf .... page 7
The ARC HPA refining process uses an Aluminium chemical feedstock and several reagents, to manufacture 9,000 tonnes per year of HPA and about 77,000 tpa of a by-product used in other industrial processes

The ARC HPA process produces one by-product for sale. The by-product is actively traded within Australia and globally, with an estimated global market size of about 150 million tonnes for US$2.2 billion in 2018, with very good growth forecasts. It is used in powder form in the construction and agricultural industries. KRR’s anticipated production of about 77,000 tonnes per annum would present less than 0.05% of the global market and less than 2% of the domestic production market. The Company plans to negotiate sales of the by-product to existing end-users in the Kwinana and Perth metropolitan areas. The Company has not used any by-product sales pricing in the projected annual project revenues of the PFS financial analysis

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to me
this makes the HPA project even better dollar wise...... eg greater profit per ton

now I wonder how many people have read the total PFS document ?