true!interestingly, i had a conversation a few days ago with...

true!

interestingly, i had a conversation a few days ago with someone on x who saw the sale on the spot market as evidence of the incompetence of gln's mgmt. agy has an low quality brine, which is actually not suitable for the process of evaporation ponds. they have been trying to prove the opposite since the beginning.

through the jv with puna, they also don't publish any figures regarding sales prices or opex/t. the quality of their final product (battery / industrial quality) is also not published, which makes it quite opaque. they probably aren't burning any money 'cause of the fallen carbonate prices. they are probably burning money 'cause the processing of the brine requires an enormous amount of money per ton due to its nature and they haven't managed to sell it at a premium to the spot price. looking over their announcement regarding the sale, things look different. only at second glance do you realize that they are aiming for a premium price in the future. in my opinion it was a emergency sale to get some money.

this does not affect gln. obviously not at the moment, as they are still under construction and need money for the completion and therefore the first delivery of chloride. secondly, for the reasons stated above by @8horse. thirdly, two studies have now determined an opex that has a healthy margin even at current spot prices. and fourthly - you know the story: high quality brine, excellent team which has experience in building ponds, processing the brine and selling chloride.