please explain?, page-9

It would take at least a couple of years to ramp up to full production of 20+ mtpa. Good point regarding offtake agreements only occuring once the BFS is complete. I would imagine that negotiations would have commenced a long time ago, but until the BFS is proven up, no binding agreement can be formalised.

I'm not sure in the wisdom of Firestones small production pit model, especially if they can't afford to run it as owner/operator. It might add a bit of short term cash flow, but also could incur a lot of expenses. Normally, the difference in overhead cost between running a small operation and a medium sized one is not that substantial. Nonetheless, it is an exciting development and we will just have to wait and see whether or not it works. I think I prefer RES' model of getting everything in place before starting production, that seems to be a more prudent strategy.