Which was to raise 30 million at the peak of the lithium price, then use that money to buy Prairie.
There's no new Big Sandy plan, opex is double Prairie, not modular, NTEC adds as much value as Blumberg (AZL needs to cut NTEC loose and regain the 10% shares), I dont think the LRC was a good investment but not as bad as the Nikola truck.
Some mismanaged spending that could have helped fund Phase 1 and keep AZL at a much better SP:
- 6 million on the LRC + salaries for workers (other lithium players realised Koch is the best DLE without spending 6 million) - 400k Nikola truck - 11 million on Pad 2 and 3 (could have been spent later, once Pad 1 proven) - 1.25 million in Midwest Lithium -------------------------------------------- 18.65 million --------------------------------------------
Ka-Voka has won the war but the bottom line is anyone who invested in Big Sandy for the long term got a much better project out of it. BLM delays/issues/lawsuit was a blessing by the Hualapai gods, IMO.
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