Calculating in ground value, page-2

5.5% spodumene contains 55kg per ton of Li20.
SC6 (6% spodumene concentrate) is the normal concentrate produced.

Spodumene occurring naturally as lithium ore is usually of a grade around 1.5% due to the impurities it contains, to concentrate its Li2O % the ore is processed by DMS (Dense Media Seperation) and flotation to concentrate the spodumene to SC6 grade.

1MT @ 1% Li2O has an approximate SC6 content of 125kt (10,000 tons Li2O divided by 0.06 x 75% recovery rate)
Note: 0.06 = 60kg.
Once SC6 can be estimated value can be determined (SC6 X price = resource value).
Market value of a resource is usually a % of resource value normally this is around 2.5% depending on grade, depth. location and ease of processing (metallurgy).

The above is how I understand it and is a rough guide.