Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-10

IMO the problem is as follows, cut from PEA and referenced in Qtrly also



Current price SC5.5 is half that. But that is now. What will it be then. These are 15,20,30 year projects. Current price puts the bears in charge as it smashes the project NPV.

Mgmt does not control spodumene concentrate price. It does however control C1 Cost ... and for GT1 it is higher than many (that I follow) at US$741/t ... and no doubt it would be higher given recent experiences.

But the plan is not to sell SC to China .... so CIF becomes irrelevant, But presently no LiOH converters in North America in reality. This is where LG Chem (and others) come into play. Either they build the CAM plants to feed the Gigafactories or the whole notion of ex-China supply chain falls in a heap. And no point building the CAMs if the spodumene isn't available locally. Chicken-Egg-Chicken.

What's it going to be. FC I hope ... (the C in China BTW). Come on LAC you got this. You got GM to do the big deal on as yet to be proven flowsheet ... this is straightforward-ish.

Cheaper than I ever thought it could be