many don't attach much importance to contributions on hc and...

many don't attach much importance to contributions on hc and overlook the sometimes extremely content rich contributions in these threads. none of us is omniscient and only the ability to deal constructively with the views and theses of others distinguishes us from chaos.

@Smith71 no, i don't mean you specifically when i say that the mgmt is cursed on red days and on the other hand, after a critical post by mondy or me, statements by the mgmt are invoked in order not to tolerate our point of view. in fact, you do an outstanding job and add great value to any private investor. i agree with you to the extent that hmw, with all its properties, offers sufficient space for the chloride route and the stages that have been announced so far and have been economically developed through studies. the northern properties in particular should offer expansion potential for the chloride route. stage three should be mentioned explicitly here.

this does not change my view of the carbonate route, which in my opinion requires significantly more space (in order to achieve an economically viable annual production rate that justifies capex). not to mention the increased energy consumption of a carbonate plant. mondy complemented my contribution very well here with the example of lke and her electricity problem. for this reason, i also question the economic viability of a dle plant.

this leads me back to the lower valuation of the assets and the resulting discount compared to competitors. for this reason, i do not consider a comparison of gln with sales that have already taken place to be expedient. in my view, the comparisons based on assets represent incorrect assumptions about future valuations.

i don't think candelas is suitable for sale and these are my reasons:

a) candelas does not offer enough space for a single company (!) that wants to focus on carbonate production to deliver an economically outstanding annual production rate that would justify presumed capex.

b) the infrastructure (especially electricity) would probably raise the capex/t well above its competitors.

c) nor does gln expect the space to candelas in at least one further stage.

it is important to note that candelas is a logical addition to hmw in the chloride route. i am very curious to find out the company's plan for candelas. it remains to be seen whether candelas will become a kind of independent stage one or whether brine from candelas will be sent to hmw for further processing. it remains to be seen whether candelas a) will become a kind of independent stage one or b) brine from candelas will be brought to hmw via tanker for further processing. for me, from an economic point of view, it can only be a).

i hope that my contribution is not taken as a criticism of mgmt or gln per se. once again - i think the chloride route is a very smart move. i have modeled many different lithium companies in the past and consider gln to be an outstanding opportunity.