I studied engineering and then chemistry, but that's not relevant or what I do now, what is to me the current battery material prices, as that dictates if projects have any value/bankable, not just in my mind but also "Mr Market"
Heres 2 DFS's. NMT is not the cheapest
VR8 much lower CAPEX, and OPEX for similar production (early years)
Both don't have the money yet or banked, so my rationale is at these current low vanadium prices, not only are both projects hardly viable, NMT would be down the list of development, hence it carries no weight when I do my own assessment and decision to buy shares
Anyone is welcome to put whatever value they like, it's just my personal opinion, apologies for m not being clear
Similar thesis with ELI
The thing is, is not just brine, the feedstock is 6%. The closest you can look at is GLN, from that you can work out the cost of the actual feedstock that say NMT would have to pay, then work out the overall NPV etc from NMT cost studies have been released so far. Yes, the conversion cost is great, but I try to work out the whole conversion model, not just a small part
And it gets complicated really fast, as say GLN won't t be selling that 6% solution as their Capital costs/opex's have to be covered, and the lithium prices are extremely low making the whole thing un bankable anyway, that's why I chose to not consider this much value
That may change in the future, again its just my opinion
I do have lots of numbers and scenarios about all of this with ELi, including tolling arrangements possibilities, etc but I don't have the time to publish them here, and with Lithium prices so low, it's pointless until they recover IMO
As I said I'm a big fan, but I'm not expecting much from these 2 units, I would be pleased if they do have value
