'Yes, along with all central banks, international investors, jewellery markets and industrial markets which results in average trading volumes of US$35 million per day for gold in the over the counter markets (OTC) (through Loco-London and Loco-Zurich). Fact.
Compare that with LIT X Global Lithium and Battery Tech ETF fund. On a 90 day average, LIT has a trading volume of 47,680 units. At the current price of US$30.34 that’s a daily value of about $1.44 million or about 35,000 times less than the value of daily gold trading.
At current levels of LCE sales world wide of about 300 to 350kt/annum the total annual value of sales of LCE are about US$7 billion annually at a LCE price of US$20,000/t or about one fifth of the daily value of gold traded.
Maybe that tells you how insignificant lithium is as a market compared to gold. Esh'
My goodness
@eshmun ,
Normally I wouldn't bother correcting your nonsense on a public forum. However, such is the absurdity of your latest argument and since you've gone out of your way on numerous occasions to correct others (including myself on a couple of opportune occasions) with your imperious knowledge and wisdom (presumably to drive your own ego), I thought it would be fitting i.e. on this auspicious day for AVZ shareholders, to return fire with some of your own medicine.
The first major flaw in your argument above is comparing an old economy element (Gold - a store of value which has been around thousands of year) with a new economy element (Lithium - a relatively new discovery by mankind that has more recently been used to create disruptive technologies due to it's unique properties).
I mean seriously Esh, what were you thinking here??? Has your argument re: AVZ become so weak now that in a last ditch attempt you've resorted to making comparisons between Lithium and Gold? You might as well compare computers to volcanoes, bricks to palm trees, Canada to eggs and Jackie Chan to microwaves.
Secondly, your quoted arithmetic is disturbingly inaccurate. For example, on what planet does $7 billion (your annual sales figure for Lithium) equal one fifth of $35 million (your daily OTC gold sales figure). i.e. if you're going to make absurd comparisons then at least get your facts and numbers somewhere in the ball park.
Furthermore, have you seen the latest growth forecasts for Lithium? They're 4-5 times higher than the 300/350kt p/a currently being produced. So within a few years (by 2025) you're going to have an industry worth ~$30 billion based on current prices. Now ask yourself, has the gold industry got a hope in hell of achieving similar growth rates?
Finally, you've attempted to scaremonger the bejesus out of AVZ holders on many occasions in the past with whatever is/was the flavour of the day eg. Ebola, the DRC election and recently the supposed lack of interest in the latest
oversubscribed CR.
Yet here we sit with ~$14m (after costs) and a recently improved world class resource which is by far the largest and most exciting spodumene play on the planet, and will sooner or later be mined one way or another.
The only question is when, and will it be AVZ who takes Roche Dure all the way to production?
As with anything in life (apart from death and taxes) who knows for sure. However one thing is for certain, and that is new and existing stakeholders have forked out another $15m and the company is now
fully funded to complete the 5mtpa/10mtpa SS, a DFS (including a confirmed transport route) and these milestones will form the basis for the 'decision to mine'.
And at the end of the day this is all that matters for AVZ shareholders. Now you can quibble with semantics all you want and divert everyone's attention to Ebola, the DRC, Lithium and whatever else you can muster up until the cows come home, but at the end of the day your AVZ predictions and concerns have so far amounted to naught. And I think that it's important that new and existing readers understand this fact when reading your posts.
Esh, it appears that you'll always be a sceptic / non-believer and that's fine, but I think the time has come where you may be better off focusing your energy on gold and gold stocks (I hear that is what you're passionate about) rather than wasting your time here trying to understand AVZ's place in the new economy, and the company's potential contribution to some of the most exciting disruptive technologies (EV's and TaaS) to welcome humankind into the near future.
To everyone else, these two disruptive technologies are not only great for the planet, but they're set to change the way we travel and importantly improve productivity like there's no tomorrow. Furthermore, they will require
so much Lithium that it'll make your jaw drop. And guess who has it in abundance and quality and potentially enough to control the market for years to come?
GLTA (including you Esh)
Cheers
Elpha
