The resource industry assumes about 7 years minimum these days...

The resource industry assumes about 7 years minimum these days from discovery to production in greenfield sites, although it can be a bit shorter the risk is it can be a lot longer. In round numbers SVM could be looking at 1 year each for PFS and DFS if everything goes smoothly. Keep in mind with such novel mining and processing of in-situ laterite they will need pilot plant testing of hydraulic mining, hydrocyclone de-sliming, graphite recovery imo because it lenders will want more certainty this will work in the filed as suggested in a small lab test. Anyway, another year for finalisation of Malawi permits (EPA after baselines studies, community agreements on land acquisition, compo and relocation etc, Malawi gov final sign off and then wrap up finance/funding) then two yaers to build, commission and ramp up to nameplate is a total of 5 years to production.

Given SVM 'discovered' rutile potential ~2 years ago, another 5 years coincidentally fits the industry 7 years expectations. This is Africa, which history is full of delay risks but no saying this time isn;t different and Malawi actively tries to fast track process.