It's not as simple as that Ash. In the past, ILU has lost bucket...

It's not as simple as that Ash. In the past, ILU has lost bucket loads of money processing ilmenite to SR.

SR might be worth considerably more, but remember you need almost 2 tonnes of ilmenite to produce one tonne of SR. In addition, the cost structure is largely A$ denominated, while the revenue is US$ denominated, so it is highly dependent on exchange rates. In simple terms, ILU probably make money below 0.90c, but lose money above 0.90c. There is a a reason SR1 hasn't been operated for several years.