Thanks for your analysis Split.
I was wondering what the financial benefit of converting equates to. If we assume 1k t of LCE requires 7.5k ton of Spod then 30k ton equates to 225k ton of Spod. Our 75% would be 168,750 ton.
We can use PLS's auction price as a proxy for the SC6 spot price. I think this is reasonable as we will presumably have a similar sale process as an option. PLS announced an addition cargo sale on the 24th October which achieved a price of $US8,000 per dmt for SC6.0 equivalent.
Using your median price discount we get an SC6 price of $US5,500 per dmt.
168,750 x 5,500 = $928,125,000. This is $233,437,500 less than your figure of $1,161,562,500. A substantial benefit if my numbers are correct.
Thanks for your analysis Split.I was wondering what the...
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