Just had more of a look, agree with what is there and I certainly prefer ARL based on the information at hand compared to CLQ. I was short CLQ following their BFS release.
The only real advantage CLQ has is that Friedland's contacts and that they have a lot of cash in the bank already/its more feasible for them to fund part through equity. That capex amount is eye watering though...
I still cant entirely get my head around the size of their capex jump from previous studies. Some of it, yeah, but not almost doubling. Hopefully the AUZ BFS doesnt show a similar jump above expectations.
Review of ASX typical laterite and sulphide cobalt player's SS and PFS, page-135
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