Canadian listed Argentinean lithium brine players have had a bumper month leaving the Aussie listed comparables behind.
Lithium Chile (lith) has a 60% stake in the 3.3mt lce arizaro project which is not even under construction. It also has some minor stuff in chile but is now trading at cad 180m (aud200m) - a premium to Gallan! Work that one out.
lithium south (lis) owns the 1.6mt lce hombre muerto north project , ie <20% of the lce gallan has, and not under construction. Market cap of lis? <20% of gln? No, it is cad60m (aud 68m) - nearly half of gln.
The valuations on those two Canadian stocks are crazy compared to gln. it would seem a no Brainer to me to pair a long gln trade with a short lis/lith trade.
Argentine Brine Comparables, page-95
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