Mineralogy.
Zinnwaldite is a mica, which contains substantially less Li (< half) than spodumene (a pyroxene). So it makes sense that spodumene is the chosen hard rock ore for downstream processing into Li salts. Brines are completely different, so let's just ignore them in this discussion.
Extracting Li from spodumene is a well tested, commercially viable process. Alpha spodumene (the ore) is impervious to acid attack, so is heated (possibly with additives - I don't recall) to +1200 degrees to 'crack' the lattice and convert to beta spodumene from which Li can be leached and carbonate/hydroxide precipitated (eventually).
But the kicker is that spodumene miners don't produce Li salts, they sell a concentrate to downstream processors for upwards of $600/tonne. This is why I think a spodumene deposit in the centre of Africa is 'stranded' - how do they get their product to a customer cheaply enough to make money? Unless they're looking at downstream processing...personally I can't see it as their location would mean prohibitive capital costs.
There is no market for zinnwaldite concentrate so EMH has to produce Li salts. The nature of the deposit (thick, extensive, consistent grade) and location means this is possible. However, the extraction process has not been proven commercially so there is a risk it won't be viable for one reason or another.
EMH is at the cutting edge - if the process works it could make an absolute killing for all involved (including CR). If not, well...we don't really want to think about that! Note that the best comparison to EMH is Bacanora Minerals - hectirite clay in Mexico (plus the German portion of Cinovec). The Mexican deposit has similar mineralogy (both phyllisilicates), is similar size and grade plus has a similar process route to Cinovec. Bacanora is ahead of EMH (think they've completed a DFS?), they have a non-binding offtake agreement and their market cap is C$176 million.
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