Lithium Energy has defined a JORC Indicated and Inferred Mineral Resource Estimate (MRE) of 3.3Mt of LCE (refer Table 1), of which 2.4Mt is in the Indicated Mineral Resource category. Within the 3.3Mt LCE Resource, there is a high-grade core of 1.3Mt of LCE with an average concentration of 400 mg/l Lithium (at a 320 mg/l Lithium cut-off grade) (refer Table
https://lithiumenergy.com.au/lithium/solaroz-lithium-brine-project/
https://www.scmp.com/business/banking-finance/article/3265126/chinas-cngr-looks-snap-more-lithium-projects-argentina?campaign=3265126&module=perpetual_scroll_0&pgtype=article
Lithium Energy’s Solaroz has 40% our lithium resource size, at a lesser level of Jorc verification, and at half the quality.
And CNGR bought 90% of it for US$63m. Galan mc is currently US$67m.
LEL is still at resource determination state with little to no infrastructure on site - a couple of above ground swimming pools full of test brine and a few sheds. Not sh!tting on LEL, just providing a comparison of a recent sale to show the ridiculous current mc of Galan.
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