It certainly would be business travel to meet with people who understand the lithium market and want access to the product. All these test samples are very important. If we can obtain sufficient lithium volume with a grade suitable (ie low or no iron or other deliterious minerals) for ceramics and specialty glass, I understand it is an easy market to supply and very very strong demand. Put simply this is why the Chinese bought Green Bushes in WA from Talisman for around A$800m.
That Greenbushes supply now goes 100% to China leaving a large hole in the supply to the rest of the world and Europe especially. Only time will tell what portion of our product is suitable for that market.
Just to give you something to salivate over
Assume we do prove up 50m tonnes by say 31 August at 1.5% Li2O (1.5% is probably a best case scenario) we would in theory be worth 25% of Greenbushes and I have made no adjustment for Tantalite credits which are very valuable. That comes to a juicy A$200 company value using Greenbushes valuation of several years ago as a yardstick. AND we have by no means finished drilling out the Pilgangoora resource.
This is a best case scenario but I don't for a second believe it is a fantasy scenario as we have made great progress in the past few months and I expect drill results from the recent drilling program within 10 days. That 50m target may well be achieved this year.
Cheers W2
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