“lithium brine project announces DFS for Stage 1 of 5,400 tpa,...

“lithium brine project announces DFS for Stage 1 of 5,400 tpa, production to commence in 2026”

Sounds familiar?

This was announced by Standard Lithium of Arkansas yesterday (SLI.V)

A quick comparison of Stage 1 highlights

GLN SLI

Tonnes pa. 5,370. 5,400

Project life yrs. 40. 25

post tax NPV 8%. 460m. 550m

Product LiCl. Li2CO3

IRR. 36%. 24%

LCE price assump $28k. $30k

Opex. $3,963. $6,810

Capex. $365m. $104m

M&I res. 6.4 mt. 2.8 mt

Grade. 856 ppm. 148 ppm

Both companies have a “stage 2” of roughly the same dynamics. SLI is obviously DLE, not ponds, which adds a layer of complexity.

SLI offtake is under an MoU which may result in SLI being diluted out of 30-49% of the project

GLN market cap A$254m

SLI market cap C$775m

(equivalent to A$890m)

I did this comparison quickly, so there may be tweaks (any comments welcome),

but you get the drift….