The mind boggles. If 8t spodumene as SC6 = 1t LCE then PLS'...

The mind boggles. If 8t spodumene as SC6 = 1t LCE then PLS' recent auction at USD2,500/t SC6 = A$27,500/t LCE. Then there should be a premium because you ship 1/8 of the material, you ship only once (not from mine to converter to battery maker), and the conversion cost and their margins are already covered. Who has some knowledge how to quantify this? I'd have a guess and call it an equivalent of A$35k/t. At 2,000t/a that's a revenue of $70M/yr. Not too shabby. At 12kta that becomes $420M/yr. Now we're talking! Then add Tonopah!

Also compare it to PLS' SC6 production capacity. https://hotcopper.com.au/threads/ann-pls-corporate-presentation-sept-2021.6290066/#post-56135042 Their current plant does 330kta. If we apply the 1:8 factor, that's equivalent to ~40,000kta or or our 12kta plant is 30% of that. So again, not too shabby! Or, if you wanted to have as much capacity as PLS says it will have by mid next year (560kta), then we needed 70kta, or ~6x our 12kta modular plant (assuming the resource is open and we could get the licence).

Now let that sink in and, just for funsies, compare that to PLS' market cap of $6.7B - that's 30x ours for 6x the capacity we are targeting to have in 2023, plus the premium for having done all the conversion already.

So, if based on this analysis, I told you (and of course I am not an advisor and all IMO), AGY should be worth ~$1.25 in 2 years - would that be attractive enough return for you to ignore some of the impatient criticism, and hold on to your AGY shares that you can currently buy for $0.18?