Just having a look at the Albemarle & Mineral Resources (MRL) -...

Just having a look at the Albemarle & Mineral Resources (MRL) - Wodgina Lithium project transaction.

This transaction involved Albemarle acquiring from Min Res a 60% interest in Wodgina, which in total is a 259mt @ 1.17% Li2O deposit.

Acquiring a 60% interest of Wodgina would mean 259mt x 60% for 155mt @ 1.17% Li2O (or ~1.8mt contained Li2O)

Now let's see below what Albemarle paid for 60% of this project, effectively a 155mt @ 1.17% resource...

Basically for 155mt @ 1.17% - Albemarle paid:

1. USD$820million cash to Min Res
2. AND a 40% free carried interest in the Kemerton Hydroxide plant that Albemarle will fully fund up to a cost of $1.2billion - valuing Min Res's share at NO LESS than USD$480mil
3. Therefore, combining 1 & 2 we get USD$820mil + USD$480mil = USD$1.24billion (AUD$1.8billion) for 155mt of the Wodgina deposit + some mining infrastructure (say approx $250mil value)