Ann: September Quarterly Report, page-61

All valid points don't get me wrong, and I agree with your questions, but:

Resource upgrade - this will do nothing other than a little sugar hit to the share price on good news. It won't change the amount of spod and carbonate being shipped, nor the sales price it attracts. I'm hopeful for one too, but if it drops today, tomorrow or in 12 months time am I going to sell my position? No. So do I care when it arrives - No.
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Olaroz is a LOSS making operation - yep, not happy about this one either, GXY was by far the better "half" of this merger, and we got a rough deal with it, no doubt. But, I still believe it will be a positive in the long run to be a bigger combined fish and not have just been bought out by a giant in exchange for some $ in our bank accounts and miss out on the huge profits which await us in the coming years.

Clearly sales prices have been lagging due to contractual obligations but we are now seeing these catch up. Spod price for next quarter is double that of the one just passed - double... And I doubt it will stop there. Carbonate prices for next quarter forecast to rise significantly also. This quarterly report was good, next quarter is going to be a banger, and we are only just warming up.

SDV and JB still a way to go yet to get to production but they will be coming on line right into the sweetest spot for lithum chemicals pricing you could ever hope for.

Depends on your investment timeframe I guess. Are you looking for big jumps in the next quarter in order to sell out, or are you hanging out for 2025 dividend cheques when all projects are operational and printing money? If the latter then a resource upgrade is irrelevant since we have more resource across the suite of assets than we know what to do with for the next decade and well beyond. It will come, and it will be long before Mt Cat has tipped it's last bucket of rocks into the DMS.