Ann: Toro announces Share Purchase Plan, page-19

The way I see it. TOE keeps developing it's process route (sharpening its pencil) till it's obvious U is on the up and up. They then raise and build the thing.
We've already had a massive win not paying top dollar to build a plant say 50% bigger then we needed.

Say 1.5 years from now U prices will justify a build wherever they've got to with the refinement. At that point, the actual feed grade able to go into the plant will make for rapid payback of a loan that is smaller than it would have been. Gade and price of product are two of the big variables that affect profitability.

About a year out from here someone may well seriously say "pull finger". It will be couched in more polite words but that will be the directive.