Gangfeng Li’s Capex intensity lithium peer comparisons, page-109

Regarding Fe content at 0.54% potentially being too high, reference

https://www.prospectresources.com.au/sites/default/files/Terra%20Studios%2C%20Low%20Iron%20Concentrate%20Reports.pdf

table on first page at bottom right shows Fe2O3 levels achieved by Australian producers AJM 1.5% (Li2O 5.9%), PLS 1.2% (Li2O 6.0%), GXY 1.2% (Li2O 6.0%+) being for "chemical grade" applications and PSC studies 0.33% (Li2O 6.5%), 0.33% (Li2O 6.1%) and 0.08% (Li2O 4.2%) being for "technical grade".

Regarding grind size referencehttps://www.linkedin.com/pulse/all-chemical-grade-spodumene-concentrates-same-harman-grant"

The beneficiation of the mined ore to produce spodumene concentrate differs from plant to plant. In the case of the RB Energy plant, which is currently mothballed, the concentrate was produced by flotation and has particle size of less than 74 microns (0.074 mm).In contrast the original concentrate from Galaxy’s Mt Catlin operation was produced using HMS (heavy media separation) and would have had a large particle size probably closer to 3mm.Talison produces the concentrate by a combination of HMS and flotation and the concentrate would have a wide size distribution from 3mm down to less than 75 microns."

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