Shaw and Partners are not estimating hydroxide at US$36k/t. Shaw and Partners are estimating revenue of A$252M in FY25.
I can't see where you pulled the hydroxide price from @Balls&Brown. As far as I am aware, the FY25 revenue estimate includes all the by-products.
The DFS showed that 62% of total revenue was from lithium sales. This would imply the hydroxide price was ~US$20k/t.
Shaw and Partners are not estimating hydroxide at US$36k/t. Shaw...
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