good job @Smith71 as always! i have some additions. the targeted...

good job @Smith71 as always!

i have some additions. the targeted annual production rates published by companies are almost never achieved. my favorite example is olaroz. it is correct that phase two will increase annual production. it should be noted here that the 17,500 tpa of phase one was not achieved from mid-2015 to the end of 2022. so it took 7 years until they managed to achieve the targeted annual production rate. to reach 25,000tpa you need a quarterly production of ~6,250t. this would be an increase of 1.43x compared to the current quarterly production quantity of 4,375t. this quantity has so far only been exceeded in Q4-23 (fy!) (5,059t). the past two quarters show a reduction in quarterly production.

what i want to say is this:
1) the numbers released in studys look tempting on paper and in statistics. if you add them up, you get a sense of whether there may be an oversupply or not. however, the reality is completely different.
2) a company should always strive to make the most of its possibilities. let's not talk about jp or the cfo today. gln is staffed with excellent employees in key areas. no matter whether it is about the pond construction or the sale of the product that is later produced. i think that this team will give gln a decisive advantage in increasing production beyond phase one.
3) carbonate production is more complicated and costly than the production of chloride. the leaner approach means cost savings not only in the construction phase, but also later in the area of personnel costs.

all the points listed here clearly show me that gln is superior to olaroz in theory.

however, olaroz is not my only example. how difficult and full of hurdles it can be to ramp up an operation can also be seen in the example of agy. a pea from 2018, which today is only current in terms of a carbonate price of 13,000 usd / t. share holders have been diluted beyond recognition. a mcap of A$140 million together with a soi of 1,404,407,498. looking at these figures, we could have been much worse off.

the bleeding may stop when it becomes clear whether or not gln will have to raise next quarter. the knot will burst as soon as there is hopefully positive news from glencore. should gln make it to production in this constellation, there will probably be an enormous increase in the value of the company. at the moment, almost nobody assumes that jp will make it. i can well imagine that there are phases in which not even jp itself believes that jp will make it. time to convince us all otherwise.