Ann: December 2020 Quarterly Activities Report, page-111

@Wrogerz

When you start writing about conversion from alpha to beta (calcination) you are referring to stages undertaken by PLS customers to value add for their own economic benefit. Those of course are not PLS costs.

I mentioned drainage between the plant and time of shipment because you seem to struggle with the concept of WMT and DMT - I believe you even tried to use wet sand as a proxy for moisture content of PLS ore in a couple of posts - and there is often a large difference between WMT produced and shipped. This is why MIN has shifted to reporting in terms of DMT like PLS already did, as it simplifies.

All spodumene concentrate still contains moisture when loaded onto a bulk carrier - it is not a dry product. Naturally, due to variables, customers pay for the product by calculating what it would weigh as if it contained no moisture. When companies use the term "dry metric tonnes" they are not suggesting they have literally removed all moisture for the customer. It is simply a more accurate unit of measurement to describe the lithia contained in the SC.

As previously explained, the "cash cost" figure PLS reports includes all C1 production costs up to the point of delivery in China, along with C2.