Citi upgrade, page-21

next year hopefully he will be eating all of his words. If not i will be out. ORE on a 6-7months to show me what they are capable of and do not want to see more of what we have seen this month. End of Dec should see
the cyclone bank completed and also
end of contract pricing
next year we should be
Meeting nameplate on a monthly basis, i guess this will be quarterly as that's how they are reporting now.
Achieving above $10k/t as per ANN.
Lowering cost base from $3500/tonne.


There should be some wild cards in there as well which hopefully will be positive.

I am not much a fan of the expansion of a new plant and would much prefer the bugs in this one get ironed out first. We achieve our contract price we deserve due to meeting the production and quality targets.
However there is a lot to be said in the lithium space and quantity is one of them.
A client no matter who they are would preferably get a majority of their raw product from 1 or 2 suppliers with similar chemistry.
If ORE main client(toyota) is taking up most of the supply then not much left over. So expansion makes sense if they are to be serious about supplying other customers properly. Other wise we might just end up with one client.

I just want to see the first plant up an running to capacity and quality which in my view it will be before the expansion starts.