A New Sunrise - April 2021, page-233

completely different companies doing completely different things and at different stages of the project development.
QPM is in the initial excitement / pre-feasibility stage, its just a processing facility to intermediate product MHP which is of interest to the mid-stream battery companies having garnered some offtake and a bit of funding, and it is in a buoyant commodities price environment, very much like CLQ was in 2017.
CLQ/SRL is a full on end-to-end mining/recycling complex are in now in the 'reality strikes' end of orphan period awaiting a formidable equity partner. it will produce advanced Co/Ni sulphates and possibly even battery pre-cursor (PCAM) materials, its hugely ambitious and is priced as if the EV revolution won't happen at all. its been designed from the ground up to partner with and supply Vehicle OEMs. This type of investment thesis is basically something which hasn't happened since Henry Ford's revolutionary model T ford 100+ years ago. If you listen to Benchmark Minerals talks they predict this level of vertical integration is basically inevitable if the EV revolution is to exist..
I hope that paints a picture of the upside potential of SRL