They've suspended operations because selling lithium carbonate for US$13,400/t is uneconomical.If you look back to their original PEA announcement
https://announcements.asx.com.au/asxpdf/20181130/pdf/440v5cq90hdmyl.pdf everything was great at US$13,000/t, their production costs were below US$5,000/t.If production costs have increased three-fold then has the CAPEX increased three-fold? Is the CAPEX for the 10,000 tonne expansion over US$400 million (over AUD$600 million)? Considering they've spent AUD$70 million on the 2,000tpa plant when they originally raised AUD$30 million for it, AUD$600 million is probably not near enough. How can they realistically raise this sought of money? Shouldn't they be realistic and target a smaller expansion to begin with?
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They've suspended operations because selling lithium carbonate...
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