IMHO the reason why the market has not moved with today's news is because the basic mets were already factored in.
The much more important work is in the process for separating out tin and tantalum from the waste product as well as a high recovery of battery grade spodumene. This will obviously take a lot of time to work out in the most efficient way for the full processing plant, then the cost of such a plant needs to be worked out.
I disagree with the early analysis of
@Haplo, there will not be any quick DMS (stand alone) plant at Manono. This is a long term high grade project, with no real processing plant being able to be installed until after the road is upgraded. That still allows plenty of time for organizing all the correct equipment for an efficient plant.
The Chinese are long term strategic thinkers and planners, with the spodumene, tin and tantalum from here being the long term large supplies.
IMO the early rush for lithium will be met by the WA suppliers, with this ultimately VERY LARGE project being the major supplier in the longer term.
The market is reacting to a lack of assays today as well. We cannot have a large initial JORC without the assays from a large area. As the JORC timeline from the company is still late June (IMO for some contractual reasons), it is very likely to underwhelm given the time taken to release assays. The competent person can only use the assays available to him, by about the middle of June at the absolute latest, so not even having holes 6- 12 yet, seems to be making his job much harder for anything other than a limited sized maiden JORC.
Assuming the assays are available early this week, and the next set take around the same amount of time, then we are only looking at 20 something holes included in the maiden JORC.
The 'real' JORC (just for Roche Dure) is what we will get 6-8 weeks after the full 40,000m drill program is complete, possibly not until November at current rates of releases.
I know the above does not sound very upbeat, but IMO is reality vs wishful thinking, hence how the market is reacting.
