Was ORE the last junior to successfully become a carbonate or hydroxide producer without the help of a major?
ORE Olaroz (brine) timeline August 2014: commissioning began January 2016: operating at half of nameplate & breakeven achieved on cash costs 2021: maxed out at 75% of nameplate & 50% battery grade (falling to 30-35%)
Now for the majors trying to do hard rock hydroxide in a Western country.
Tianqi/IGO at Kwinana June 2021: commissioning began May 2022: first battery grade hydroxide March 2024: operating at 16% of nameplate
Albemarle at Kemerton Q2 2021: commissioning began Q2 2024: operating at 50% of nameplate, still qualifying grade
Not a single one of these projects can be called a success, and two of them are operated by members of lithium's big four. SYA is very cash strapped right now, and your solution is to pursue carbonate, which is the most destructive thing they could do, and probably a 5 year process for significant production.
If they want to keep 75% of NAL, get used to being a spodumene only producer this decade. Their best course of action is to expand spod production at NAL to get more product available outside of the PLL offtake.
SYA Price at posting:
3.4¢ Sentiment: None Disclosure: Not Held
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