Ann: Quarterly Cashflow Report - June 2023, page-160

Apologies mate, I thought you tossed up the differences between tech and battery grade to avoid answering the question.

Livent has a $200m net profit for the most recent half year.
They currently produce 5000t of product.
They have planned expansions to increase another 25000tpa at a cost of upwards $1.5 billion.

It’s impossible to find two matching apples, but Livent (prior to merging proposals) is the nearest peer that’s producing. We’re not near them in one sense but your negative spin on valuation of the IP is intriguing. Argosy is so far advanced on every other junior and has two very rare commodities: 1: the ability to extract battery grade lithium directly from the ground to the market & 2: one of a handful of chemical engineers who can actually create it.

Good luck with your investment.