Would probably be dependant on the particular technology they are using I reckon. Those spheres look more rounded planar than they do spherical which would explain the low-ish tap density.
See how they go finalising their metallurgy to then present to potential offtakers. These results (and the expandable results) are from lower purity concentrates that what BKT are attempting to supply. The testwork is useful in characterising the flakes, but I think any commercial validation from agreements is still much farther off than the company's projected timeline of end of 2016.
Looking forward to seeing the broader strategy from here. Surely they wont just be offering a ROM concentrate for sale? In house value add, toll processing, or giving up the margins to the Japanese and Korean coaters/traders?
Good luck on this one Don!
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