Low pH Timeframe and Opposition, page-40

".....Alkaline was a quicker regulating process to production, locking in contracts and building the plant.. and means of cash follow until regulatory permits was more favourable to move to Low pH....."

Not only is your assertion preposterous but it's not supported by the operating and financial data. Appendix 5B data since start-up to the most recent completed quarter is shown in the table below.



When you refer to cash flow, I assume you mean the negative $36.8M to date. That from a plant that has produced at an average of 22% of nameplate over 12 quarters with all in production costs averaging $166/lb. By any metric, this is abysmal.

And you still maintain this was a deliberate strategy? Please, don't insult intelligent investors.

I'm sorry to say phish, you really are out of your depth.