hi @vmp, I try not to speculate too much as there are so many...

hi @vmp, I try not to speculate too much as there are so many variables but what you are speculating on is exactly my view. They are almost certain that KV is much bigger (anatol is of the same view from memory) and they are drilling to possibly make this the largest hard rock deposit in the world. Given teslas and fords plans to produce a huge number of cars where does the SC6 spod come from to meet this demand? @anatol has calculated that LTRs 150kt of spod to Tesla gives them around 330k cars. Tesla has much bigger ambitions, but where does the lithium come from? I would speculate that LTR will be drilling like blazers to get more and then go to their current partners and ask them if they want first option at a new negotiated price. Tesla, LG and Ford may already have been made aware of this possibility and encouraged LTR to go for it. This is consistent with TO's comments and Elon's and Ford's plans. If I am correct then why would LTR want a refinery, they will just dig, mine and ship SC6 spod and make a fortune because there will be very few other suppliers of this quality spod? Those that can do it, such as Mt Holland and Greenbushes etc will be at full capacity as well as demand for SC6 spod will still exceed supply. An increased resource at KV and a new deal with Tesla Ford etc will seal the deal that LTR will indeed be the FMG of lithium in Australia = money printer.