@82Punter .... The report today clearly stated a further $US10M...

@82Punter ....
The report today clearly stated a further $US10M was required to get the plant to fully operational, and yes including all of the following
"There is no detailed project budget. US$2.3M has been allowed for plant refurbishment and an all up cost of US$10M which would include first fill, critical spares, owners cost, permitting and commissioning."

I would assume that rough estimate, is to get to the position of cashflow positive, given the assumptions of OPEX and Cobalt prices supplied by the company. Those 2 great unknowns are the crux of the entire operation.

What many here possibly don't realise is that those numbers cannot be given out by the company to shareholders/public. They will need independent verification to be included in the prospectus. Plus of course all those that read the prospectus will make their own judgement of how realistic the numbers are.

Interestingly from today's report, sometimes things that are included can highlight what is excluded. In terms of the financial model supplied by WFE.....

"Processing costs are reasonable"

That is a good start...however no mention of 'ore supply costs' nor 'prices received for cobalt'. A couple of interesting exclusions by Mr Connelly as in why bother to comment on one aspect of the financial model but not others???