Ann: Completion of Retail Component of Entitlement Offer, page-19

I'll bet a chicken nugget CE's using his patsy board to drill holes until he's happy with the resource. Delta's just doing the literal dirty work for him. Ellison had no intentions of a stake in delta before SQM and everyone else started with offers, Capital expenditure for relatively low grade, deep spod's going to be something to keep in mind . Wouldn't be much of an issue if the spot price hadn't jumped off a cliff. If yinnetharra & Jameson's going to be worth a mine, it needs to be significantly bigger and gooderer. Take over of 45 cents before June is my guess, SP at 30 ish and a possible raise between now and then. China's fighting smart, transferring profit from international miner to domestic battery manufacturer. Profit margins are so tight high grades and shallow depths is where the market's buying even on a whiff of decent grades. Other explorers with high percentage rock chips are sitting on higher SPs than delta, see for yourself.