As I mentioned, we're launching phase one in November. Our technology group spent two years basically searching globally for technologies that could potentially reduce energy consumption. In grinding circuits, our target was a 50% reduction. We've identified three possible technologies, and this is the most promising and the one that's most advanced. Phase one that we're about to launch is essentially looking at the fatal flaws. There are some specific technical issues we're trying to identify about the system. That's a joint project with seven mining companies, UBC, and the SME that owns the IP. That's going to be done at the end of June this year.
The second phase of the project would be launched in September 2017. Essentially what we're doing is building a one-metre demonstration grinding circuit and proving it out using aggregate, using material from a mine. That's approximately one year.
The next part of that, which is the most difficult, we're thinking now will probably take two to three years. Again, we haven't done the full engineering yet; that will come after June. That will be a full-scale grinding circuit that's implemented in a pilot system at a mine site.
The total cost estimate of phase one is relatively small; it's about $80,000. Phase two is closer to $1 million. Phase three is going to be $5 million to $10 million.
Does that answer your question?