I have to comment on WC8 to illustrate the big disconnect...

I have to comment on WC8 to illustrate the big disconnect between the stock prices of WA lithium stocks and non WA stocks ( as noted by chair of PMY and exCEO of PLS). WC8 has heaps of options which are well in the money so it’s MC is close to $1b (was up to about $1.5b) and in addition it is low grade -about 0.9% may be less based on drilling to date. I have seen estimates of its potential resource at 100mt @0.9%. LRS has contained LCT already announced of what the WC8 potential is. WC8 has a tiny tenement no more than 4 sq km.

Low grade lithium deposits will struggle when lithium prices normalise as costs will be high.

LRS metrics are so much better than WC8 - high grade (potentially 50% higher than WC8) with an NPV of $3.6b and maybe double that when DFS is announced, big tenement area (WC8 tiny), production in 2026 compared to 2028 at earliest for WC8, low cost simple processing with high recoveries ( WA lithium stocks typically have more complex processing which adds significantly to capital and processing costs), a resource which may end up potentially containing double the LCT of WC8, YET LRS (YESTERDAY) HAD A MC A OUT HALF WC8. LRS on a like with like basis should have a MC of at least double WC8 ie 4 times yesterdays SP amd WC8’s low grade LRS. Abe should have a MC of 6 times WC8.

If WC8 is fairly valued than LRS is very undervalued.