By way of illustration ... from Allkem's FY results released...

By way of illustration ... from Allkem's FY results released today

Just a snippet of one of their assets - conventional brine in Argentina which produces lithium carbonate




ASP for their Li2CO3 is ~ US$35,442/t
Cash Cost per tonne $5,014
Operating Margin = 86%

How good is that ... Not saying HiIix gets that as clay is nowhere near as proven a process as conventional brine, but it is a simple mining process (no blasting just surfasce scraping, no evaporation ponds - acid leaching process). Of course that ASP for last 12 months had some very high price points in it.

The other thing to note (if you follow Allkem) is that Olaroz is being upgraded to 25Ktpa LCE (which is where I think Hilix could land depending on overall average grade) and it is a MRE of 20.7Mt ... so its big (well and truly over 50yrs of production ... not so relevant IMO as little value for that far ahead).