RE:RE:RE:illmeniteWhile Iagree wholeheartedly with Clipper's long held views on vertical intergration I would also suggest that we" make hay" where we conveniently can. It sems to me that $23m is more "convenient" than >$100m when the raw material is essentially free and (from what Mark Smith led us to believe in a CC in 2018 or 2019) has a payback of about 6 weeks. Please correct me if my memory is wrong.
As a fall back option, - it has been known for pilot plants to be capitalised as production units.
..........and, no, I have not seen a Feasibility study, either.
JR7