I still hold a substantial stake in GLN. My primary concern for...

I still hold a substantial stake in GLN. My primary concern for GLN revolves around its freshwater supply and its connection to the overcrowding of the salar. These two issues restrict GLN's financing/offtake opportunities or potential takeover. This is likely the reason GLN opted for the Li chloride route and presented a less than impressive phase 1 DFS. While I remain hopeful about the fundamentals of a promising deposit, the odds look less favorable after that DFS. The outcome of Phase 2 DFS will decide whether I stay invested.

I won't spend much time discussing AGY; its deposit size hardly merits consideration.

I'd like to point out that Argentina has been raising numerous questions regarding the sustainability of salars and the environmental impact of brine operations, with Rincon being a recent case in point. I anticipate HMW will soon come under scrutiny as well with limited fresh water available.

LPI is undeniably ready for action, with all necessary permits in place, including the EIA, which was particularly challenging to secure. I find myself in agreement with Frank's assessment of past brine sales as a tentative indicator of future turnover or finance/debt options.