To restate the obvious after the last quarterly, It seems likely that development of some projects is on the chopping block and we may find out which ones in the May results.
After further consideration, on the brine front I doubt they’ll stop SDV development or their Fenix expansions. I think SDV stage two will get cut. Their excuse will be to see how Stage 1 performs, so they can determine whether they should use their pond augmented DLE for Stage 2. We also probably won’t see Olaroz stage 3 and Cauchari development anytime soon.
I think Nemaska will take priority over James Bay and I’m also speculating that we’ll see a development pause on James Bay. Pausing James Bay will be a strategic mistake since the asset may give us the option to ramp up spodumene supply in periods of relative higher prices. However, I’m not entirely convinced that the Livent management sees value in Spodumene operations. This will be their leadership test for me, if they delay it I won’t be happy.
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