Okay so had a decent chance to digest the PEA info and it is significantly better than what I was expecting...
A few thoughts:
What some ppl may not understand is that this only covers drilling results for 100m depth... We know that they have drilled to 400m in a few spots and were still hitting brine aquifers so I think it is safe to say all things considered including additional land acquisitions the life of mine projections could easily double in the future.
Rincon has been explored for decades and anyone questioning the resource size/potential clearly has no clue....
See below, from a 2016 doc SRK produced... At the time Rincon was the 4th biggest li resource in the world (3rd if you exclude Uyuni/Bolivia which will never find its way into commercial production).
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High Mg levels has been the downfall for previous parties but do you really think PA would be passing up a lucrative job offer from Ganfeng if he didn't have that base covered ? He's proven it is not an issue with the initial manual batch processing so what does that tell you ?
With regards to future pricing and other metrics, the fact that 2 very reputable groups in Benchmark Minerals Intellingence and Primero were the consultants and have played a pivotal role in putting this PEA together should put even the most at ease. They are not going to put their name on something that is an inaccurate snapshot of what a project represents.
Those expecting a decent SP pop with the release of the PEA were ambitious at best IMO.... Most LT'ers that have done the research (incl. numbers and calcs) were in the ballpark vicinity with regards to the potential value of the project.
Well done to Mgt and the local Puna team for bringing the project this far in a very short period of time. A few diversion along the way but the end game remains the same and JZ has captained the ship very well to date.
I'm thinking we will see a production/project update relatively soon as well given the new pond has been lined and most likely being filled right now.
Its a frustrating game I know but having been through numerous flat spells, the wait has always been worthwhile... Now that the potential off-takers/strategic parties have the numbers and project metrics will help Mgt sure up any misconceptions and uncertainties that may have been stalling final decisions.
GLTAHs
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