Shares in Clean TeQ have fallen from A$1.06 the day before the Sunrise definitive feasibility study was released to 76c as of yesterday's close.
"I can only assume the market was not impressed by the reaction we saw in the share price," Riggall told the Sydney Mining Club yesterday.
Clean TeQ had already flagged that capex would be higher than the most recent figure of $784 million, published in November 2017, due to the upscaling of the project.
"It's very hard to go back and retrofit an HPAL plant," Riggall said.
"We made the decision to take the hit now."
He admitted the US$1.49 billion capital cost was a "big sticker price".
"Why doesn't $1.5 billion necessarily faze us?"
Riggall said Clean TeQ co-chairman and major sharehol...