Come on, guys. If you're going to throw around estimates at...

Come on, guys. If you're going to throw around estimates at least use the right basis or you're never going to get a number that is anything near reality.

JORC was for 1.23Mt @ 1.43%. That's 1,230,000t @ 1.43% Li2O.

Assuming that they refine it to ~5.5% Li2O, they will need about 5t of 1.43% to produce 1t of 5.5% Li2O to sell (assuming some lithium lost to waste). So divide the JORC tonnage by 5 to get an expected 246,000t @ 5.5%.

At US$900/t (approximate price GXY contract had for 5-6% LiO2, from memory) , that's (246,000 x 900) = US$221.4m.

These figures use a lot of estimation so don't take the final answer as a given but The original estimate of $7m is obviously a large underestimate.

Obviously DYOR but when you do, be careful of the units that each number you use is actually referring to.