Ann: A$25m Capital Raise to Support Full Funding of HMW Phase 1, page-83

in my opinion, it only makes sense that you give a sales price as a percentage of the carbonate price, since as far as i know there is currently no chloride price index. i would like to be corrected on this.

in fact, the step from liquid chloride (specifically the high grade that galan plans to sell) to high grade carbonate is less energy intensive and therefore higher margins can be achieved than, for example, w/ sc 5.5. dj will have contributed his expertise in this area to the studies. he has sold chloride for years, which is why this study gives me more credibility on this point.

opex. so far there has been no project that i know in the lithium sector where opex didn't increase exponentially after entering the production phase. therefore i also expect an increase in opex in this case. especially w/ regard to the reduction in production volume. i'm explicitly thinking here of the areas of transport and g&a due to the planned exports of the product. we are currently fishing in the dark. either we trust the company's updated estimates or we will hopefully see the first figures in the quarterly reports in a year.

try opening/downloading and enlarging the image or contact me on x. can provide you everything.