GLN (ASX) Compelling opportunity

Originally posted by paulgf: ↑

Interesting podcast as is usual with Joe Lowry and his guest Carlos Galli. Key takeaways for me -

political situation improving in Argentina and socialist government on the nose in early parliamentary elections. Bought a smile to my face as I hate socialism..........fullstop. I am of working class background and the best thing that ever happened for working class people is capitalism in my opinion, as your given the opportunity to improve your own lot in life.
Still found it a little concerning Argentina continues to have idiots in the upper levels of government who think they should be striving to make EV's in Argentina, as part of this ev revolution. Amazing how western governments the world over are filled with people who have no clue how capitalism actually works and simply don't understand basic concepts like comparative advantage and competitive advantage and things like economy of scale. Quite amazing also to think annual Argentine production is still is a mere 40,000 tonnes per annum.
DLE actually uses more fresh water, possibly 4 x as much compared to the solar evaporation pond approach, depending on the specific dle process though Galli said in time DLE tech may have opportunity to bring this down. Puts paid to a lot of rubbish you hear that dle is better for fresh water consumption. Nice to have it confirmed traditional ponds don't actually use much fresh water at all and hence this could be a plus in our case at hmw where with a few players on the one salar , fresh water could become scarce in time and an issue/constraint on production.
DLE is a very complex tech and it should be considered a bolt on to a normal evaporation process not a complete substitute. People pushing it as a complete substitute are likely pushing a nonsense approach given the complexities of carbonate production. Every solution in terms of being a combination of traditional evaporation approach and dle needs to be fine tuned for the actual salar in question.
Traditional evaporation with ponds does come at cost of lower lithium recovery, ie circa 50 %, and this is why you see quite conservative numbers in GLN feasibility studies so far, but the flip side is low cost with solar evaporation and low consumption of fresh water. DLE's advantage is really the ability to move the dial up on recovery and quality. Thankfully but HMW has very low impurities anyway and hence the advantages for moving down DLE with HMW are more limited.
LKE copped another drubbing in this which bought another smile to my face, due to its continuing outlandish claims on dle and pushing this idea of it getting into the Top 4 anytime soon. Galli was in fact very dubious of their claims.
General view from Lowry was that Vulcan too are just glossing over all the technical challenges they face with geothermal and dle lithium production from a very low concentration brine. As I have said on this thread before, its absolute insanity that project is 1.65 BN market cap and they may throw out these nice looking powerpoints but they are completely bereft of any proven process or flowsheet on how they are actually going to do it but the market just happily ignores the elephant in the room. That elephant will awake one day and their will be carnage.
Ganfeng has ended up in a bidding war for Millenial but Galli doesnt rate this project as even a top 5 potential as pastos grandes is a difficult salar he thought to work on for space , quite remote and local population here he suggested was problematic. Encourages me that if anyone comes looking for our project at HMW we may be able to command a premium to pricing Millenium ultimately will achieve.

I felt good after listening and I thought it generally confirmed JP's approach to use traditional evaporation ponds at HMW and keep it simple which has lower cost and lower water consumption is the correct way to go at HMW and not be off chasing DLE rainbows particularly at this early junction. Would recommend all GLN holders have a listen themselves.

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Paul, I hear you are in Perth? would you be keen on a coffee next week to chat GLN? Trust me, I'm not a random....

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Paul, I hear you are in Perth? would you be keen on a coffee...

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