iGO Tianqi, page-136

Gold may be Chief amongst them, but it is still a commodity that hundreds or thousands of companies around the world can mine.

Spodumene is also a commodity, albeit one that is going to be hot over the next decade. Lithium Hydroxide is a step further up the value chain, and it is not necessarily fungible like other simple commodities. When an Automotive Manufacturer wants to buy gold for something like plating electrical connectors nobody asks specifically where it was mined, how long it has been sitting on the shelf, and what process was used to purify it. On the other hand when they buy a battery, that whole value chain from Lithium Hydroxide, to Cathode, Battery Cell, Module and Pack will likely be qualified to certain specific suppliers and processes. And, there can be significant switching costs associated with qualifying alternative sources that can also make the business sticky after the initial contract is awarded. To me, this all tends to suggest that there is significantly more potential for sustained profitability being a leader in Lithium Hydroxide instead of standing as an equal amongst many in Gold.

I understand the spirit of your question, but it is somewhat equivalent to would people consider me better off taking a job as a shift manager at the McDonalds down the street or at the Quay restaurant? In other words I also think the market should applaud the sale of Tropicana since it restores the balance sheet and represents money that can eventually be reinvested in expanding what I expect to be more profitable Lithium production at Greenbushes /Kemerton.