independent valuation of luapula plant, page-7

"a FURTHER $US10M is needed to get the plant operational (as per today's report) ...
Every single company I've ever followed/invested in has gone way over budget in their expenditure on processing plants build/refurbishment, so even the $US10M might not cover it."

Not exactly, the further US$10m is what is required to get the plant operational, first fill and working capital to operate the thing. So it's not the case that it is US$10m for refurbishment of the plant as you are suggesting in your post.

Therefore, whist there may be some cost overruns in the refurbishment, that cost is still a minor aspect of the total US$10m that is required to get the plant producing Co & Cu concentrates as they need to acquire acid, feed, employees etc etc to operate the plant for the first few months until they start to make revenue from sales of the output.