See above PLS ' capital investment, 2Mtpa $214 million, 4Mtpa $342 million, I think as with tantalite , PLS's capital cost is higher then JV's, AJM's 1.54 Mtpa only cost $139.7 million.
JV have fund $244 million (30 *2 + 80+ 21.5*2)/0.75, probably enough for 2.5 Mtpa ($234 million)plus 1.5 Mtpa ($10 million to upgrade pos's).
Strategy - What happens next!!, page-185
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