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Yes and no. It's not quite big enough to be a HLT although you can always add sparge water after the mash. We've used it successfully as a passive mash tun for a straight infusion mash and it holds heat well with a blanket thrown over it. The temp control adjustment is not fine enough to hold an infusion mash steady, nor is the bottom plate method really suitable - I think you'd need to go HERMS or RIMS. The false bottom and tap are both good. HTH.
How are you getting on with this, have you used it much? Have you found an improvement from your burco?
I'm currently using a cheap buffalo, but thinking of getting one of these instead.