SO4's 85Mt @ 8000mg/L figure is their resource, not the recoverable amount:
"The estimated tonnage represents the in-situ contained brine with no recovery factor applied. It will not be possible to extract all of the contained brine by pumping of bores or trenches; the amount which can be extracted depends on many factors including the permeability of the sediments, the drainable porosity, and the recharge dynamics of the aquifers"
SO4 has a $54M MCap therefore if GPH can prove up a resource of 80Mt, at 9000mg/L, then GPH should be re-rated to a similar market cap, with a premium for the higher grade of their deposit, whilst discounting for being slightly behind SO4 in the development stage.
A MCap of~45M could easily be justified which would be a 3 bagger from current levels, however I expect higher tonnage and grade than 100Mt and 10,000mg/L when factoring in the new upper sand layer and the higher grades of the upper aquifer, therefore an even higher market cap should be seen.
APC Price at posting:
9.6¢ Sentiment: Buy Disclosure: Held
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