Come on, guys. If you're going to throw around estimates at least use the right basis or you're never going to get a number that is anything near reality.
JORC was for 1.23Mt @ 1.43%. That's 1,230,000t @ 1.43% Li2O.
Assuming that they refine it to ~5.5% Li2O, they will need about 5t of 1.43% to produce 1t of 5.5% Li2O to sell (assuming some lithium lost to waste). So divide the JORC tonnage by 5 to get an expected 246,000t @ 5.5%.
At US$900/t (approximate price GXY contract had for 5-6% LiO2, from memory) , that's (246,000 x 900) = US$221.4m.
These figures use a lot of estimation so don't take the final answer as a given but The original estimate of $7m is obviously a large underestimate.
Obviously DYOR but when you do, be careful of the units that each number you use is actually referring to.
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