I read it as the samples are mainly on E22/638 which is 25% IGO.
Anyway :
- the samples are just the outcrop (surface expression) of the underlying reef. That is likely to spread out quit a bit. Think Iceberg.
- it's going to need a bit of money money and effort to bring the find up to a point where production can start the first stage is drilling. IGO's deep pockets will be tapped to provide that. That can be enhanced by IGO's providing offtake agreements etc.
I think spodumene and/or lepidolite concentrate post DMS (Dense media separation) only get to around 30% Li before further refinement is required. Since IGO part own a hydromet plant(s) in Kiwnana they will be able create a decent profit for all parties. (like the Ni/Co Sulphides refined to battery grade in IGO's future.
The high ground is why I invested in IGO. In fact on the previous (by two) SGQ announcement I bough some SGQ but sold it at a small profit preferring to pursue the Li via IGO.
BTW I'm not sure why the IGO price is so high at present*. I expect it to be in excess of $15 even $15-20 but in say two to three years time.
All IMVHO
* I'm not complaining.
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Last
$4.23 |
Change
-0.035(0.82%) |
Mkt cap ! $3.203B |
Open | High | Low | Value | Volume |
$4.33 | $4.33 | $4.21 | $4.200M | 984.7K |
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No. | Vol. | Price($) |
---|---|---|
31 | 14329 | $4.22 |
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Price($) | Vol. | No. |
---|---|---|
$4.23 | 12183 | 43 |
View Market Depth
No. | Vol. | Price($) |
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6 | 2578 | 4.220 |
31 | 49484 | 4.210 |
20 | 45532 | 4.200 |
12 | 36615 | 4.190 |
15 | 56193 | 4.180 |
Price($) | Vol. | No. |
---|---|---|
4.230 | 19184 | 34 |
4.240 | 14942 | 13 |
4.250 | 19950 | 17 |
4.260 | 62088 | 12 |
4.270 | 24937 | 10 |
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