Capex intensity:
LTR: AUD$895m for 600ktpa, AUD$149m per 100ktpa
LLL & Ganfeng: US$255m for 506ktpa, AUD$71m per 100ktpa
LLL & Ganfeng, so far it's still on budget, also the US$255m capex, includes some capex for the stage 2 expansion. That's the big advantage of partnering with Chinese largest lithium compound producer. Don't forget PLS initially faced with plant commission issues, that costed not just additional capex but also time. With Ganfeng's technical director, Dr Wang (flotation expert and lithium processing expert with experience at Greenbushes and PLS), Goulamina commission is likely to be smooth, imo.
Ganfeng is probably the most experienced lithium producer in the world, also with the lowest capex.
LLL Price at posting:
64.5¢ Sentiment: Buy Disclosure: Held