Just a few points
Lithium brine by-product would be muriate of potash (MOP) and @ $400/t is a fraction of the value of LC
Spodumene value is $500-600/t @ 6% Li2O or ~$3500/t LCE. Since brine operations produce LC for <$2500/t, when markets contract, spodumene will be the first to bend - Like the laterites (vs. sulfides) in the previously mentioned nickel analogy.
The cost to convert spodumene to LC or LH is $1500-2000/t (so a total $5000/ t LC from spodumene)
The only way that Sileach is a paradigm shift is if it can produce LC at less than $1500-2000/t LCE and produce a by-product that is worth >$1500/t
Good news is the lithium demand supply differential is real and at the current prices make hard rock lithium a good space.
@Scarpa, do you have a reference for LH from Spodumene only? My understanding is that most LH is refined from LC (from anywhere), only some companies looking at LH direct from spodumene (NEO, nemaska etc)
