Cheers, as I understand it there are a number of areas for improvement in practice but the policy is to under promise and over deliver. As you suggest, time will tell the story, and they are currently operational.
A portion of the O/H is the conscious decision to hold multiple product, grades, packaging, etc, in stock Pt Adelaide for immediate delivery. Note multiple contracts in that 8ktpa offtake. They've most definitely planned thru the initial "dig & ship" phase over the past 12 months.
Thing with VXL is we've had v little detail on quality, best indications on hand are reports from early 90's production re low & benign impurities. Understand a number of those customers have queued up again.
