If public statements are to be believed, part of RIO's rationale...

If public statements are to be believed, part of RIO's rationale for buying arcadium was to utilise Arcadium's dle IP. Unfortunately there is no silver bullet when it comes to dle, it is bespoke to the deposit, just because it works on one does not mean it can be rolled out economically on every brine deposit. Sure the proposed process here appears simpler but without any validation via studies investors errr on the side of caution.

How have they come up with the numbers quoted in the presentation? How detailed were the studies undertaken to validate the process works and come up with the savings. If this was always going to be a better outcome why was it not considered before? Authium has been around, why keep pushing uphill with offtake + prepayment.

How will Authium fund u$40odd mil capex? Is that piece solved or is it another milestone that now by extension impacts galan. If they cant fund it its back to square zero. What will they do with lithium brine? US sounds ok in the scheme of daily geopolitical dummy spits but where is it going, who in the US has the expertise and facilities to produce carbonate from chloride brines. Not authium. This was part of the rationale for choosing Chemphys they actually had the knowhow and facilities to take the brine and turn it into chems.
What happens if authium doesn't want to take the chloride because they cant find a home for it? Can't really enforce the binding offtake knowing you're potentially putting your partner and plant owner into administration.

If authium is borrowing the $$ to fund capex and using the plant as security for the loan, i dont see how that is far better than galan giving security over their own assets, its just one layer of risk removed but galan needs the plant.... sure galan keeps the deposit and loses the plant and offtake if it goes titts up.

It feels like a no alternative deal to keep the ball rolling with plenty of project on project risk to be worked through someday when li pricing and sentiment improves. Reflective of the price action to date and post the announcement i suppose.

Buys galan time to sit on the large asset at no risk of losing it, if prices recover so will the valuation and if in that time authium doesn't work out they're in no worse a position barring a few more CRs.

Re call, plenty asked questions, not sure whose idea it was to schedule a 30min call with 10min for questions for what is apparently galans biggest milestone (based on opening remarks) after 2years of pain

Aimo