IONIC shares, page-8

I don't think that newspaper report was exactly an announcement of the mine opening! It suggested they were "looking into" a complete replacement of the processing equipment at some stage once they were out of receivership. That's a very long stretch from actually starting commercial production again. It may take years to finance new machinery and convince someone to fund yet another attempt at commercial production when the first two attempts had failed spectacularly! When I looked at the costs of just bagging the product and trucking it to Adelaide for shipping it was nearly equal to the total sale price per tonne, much less the costs of mining and purification. So unless they can ship in bulk (i.e. not bagged) directly to a Tesla battery factory in Adelaide, and have a ten year locked-in supply agreement to underpin the cost of new equipment, I reckon they have a snowballs chance in hell of actually turning a profit. Although, like the VXL team, they might generate some fat directors fees along the way?