announcement on jorc out, page-20

The numbers actually do add up.

The way they wrote it made it sound as if the board spent weeks writing computer algorithms to calculate the equivalent reserve of the salts.

If interested, the way it's calculated is as follows:

Atomic mass of elements:
Li - 6.941
Cl - 35.4527
C - 12.0107
O - 15.9994

Atomic mass of lithium chloride (LiCl) - 42.3937

So 70000 tonnes of lithium equates to (70000x42.3937)/6.941 = 427540 tonnes of lithium chloride

Atomic mass of lithium carbonate (Li2CO3) - 73.8909

So 70000 tonnes of lithium equates to (70000x73.8909)/13.882 = 372594 tonnes of lithium carbonate

The percentage of each salt will vary but the overall lithium production will be approximately the same.

Interesting to note that the world's lithium production is currently at around 15000 tonnes/annum.

The announcement based it on 12000 tonnes/annum of lithium chloride extraction which equates to 1965 tonnes/annum of lithium.

If they do happen to produce at this rate, it equates to approximately 13% of the worlds lithium production.

Not a bad effort if the numbers they have given are on the ball.