Closest thing to KDR is LTR. There is no other comparison that...

Closest thing to KDR is LTR. There is no other comparison that is even remotely close in terms of location, grade, size, and sovereign risk.

MLL = Good size and grade, but it's in Africa, therefore comes with extra risk factors.
AVZ = Giant deposit with high grade, but in an awful area with serious issues in several major areas. Chinese control in DRC is also a serious factor.
GXY = Some good assets in James bay good grade, decent size, but no infrastructure = cost problems IMO. SDV is a good size brine deposit, along way off doing anything with it though. Mt Cattlin only has a few years left in it, and they're currently wasting valuable ore selling it for next to no profit, plenty of cash also tied into A40.
LTR = Good grade, good size, good infrastructure, good management and this is all whilst still being completely untied. SS is very positive even at poor lithium prices. More met testing needed to confirm, but initial results are very promising. PFS and met tests due before end of year = major catalysts. Management have bought even more recently which generally is a good sign of things to come, especially when they already own plenty of shares. LTR also has extremely high exploration potential at several tenements, there is several mapped pegs shown nearby to already discovered deposits at Kathleen Valley and Buldania.
CXO = Good grade + infrastructure and looks to be low cost, but small in size. Therefore will lack mine life, unless they find more exploring. I think they will end up bigger than they're currently, but not Tier 1.
PLS = Good grades and sizeable tier 1 deposit, but large discrepancies from PFS to production results, which has caused delays and plant upgrades to remove iron = poor by tech team IMO.. Need to fix issues and prove the tech team can make thing's right before taking a look. Debt could also be a factor.
MIN = Great deposits with Mt Marion and Wodgina, but MC very high = potential reward is likely reduced.
AJM = Grade is low therefore costs are high. Debt is also a factor. Need Lithium price to go up before considering.
A40 = In Administration.

Here is a current valuation list per tonne for Aussie spodumene deposits. This list was done by @mistie I take zero credit for it. It is missing GXY, but my comments above show my opinion on that matter anyway.

LTR 11/09/2019
Mcap $166M @ 9.6c fps (1678M fps, +$18M cash)
LTR Global, inc Buldania B of Env resource 12-15Mt @ >1.0% Li2O 48 ppm Ta2O5
& midpoint of KV resource extension target of 25-50Mt with current KV resource,
LTR value per res Li2O tonne (~1.61Mt contained Li2O) = ~$103t
Kathleen Valley Meas/Ind/Inf res 75Mt @ 1.3% Li2O 150ppm Ta2O5.
LTR value per res Li2O tonne (~0.97Mt contained Li2O) = ~$161t

AJM 11/09/2019
Mcap $160M @ 7.5c fps (2125M fps, ~$9.5M cash, $178M+ debt)
Pilgangoora Meas/Ind/Inf res 50.5Mt @ 1.01% Li2O (Prov/Prob res 41.1Mt @ 1.05% Li2O)
AJM value per res Li2O tonne (~0.512Mt contained Li2O) = ~$641t

KDR 10/09/2019
Mcap $769M @ $1.90 fps (405M fps, $25M cash, SQM JV, no debt, WES takeover scheme insitu)
Mt Holland (50%) Meas/Ind/Inf res 189Mt @ 1.5% Li2O + Au (KDR 100%) Meas/Inf res >1M ozs
KDR value per res Li2O tonne (50% of ~2.83Mt contained Li2O) = ~$544t

PLS 11/09/2019
Mcap $690M @ 35c fps (1974M fps, ~$100M cash, $143M+ debt)
Pilgangoora Meas/Ind/Inf res 226Mt @ 1.27% Li2O (Prov/Prob res 108.2Mt @ 1.25% Li2O 120ppm Ta2O5)
PLS value per res Li2O tonne (~2.86Mt contained Li2O) = ~$256t

CXO 11/09/2019
Mcap $32M @ 4.0c fps (788M fps, ~$9.2M cash)
Finnis – Bynoe, NT Meas/Ind/Inf res 9.63Mt @ 1.3%
CXO value per res Li2O tonne (~0.129Mt contained Li2O) = ~$244t

A40 12/08/2019 Administrators-Receivers appointed
Mcap $121M @ 8.2c fps (1476M fps, ~$16.6M cash, $53M+ debt, trading suspended)
Bald Hill (50%) Ind/Inf resource 26.5Mt @ 0.96% Li2O (Prov/Prob reserve 11.3Mt @ 1.01% Li2O 160ppm Ta2O5)
TAW value per resource Li2O tonne (~0.255Mt contained Li2O) = ~$619t

MIN 01/08/2019
Mcap $3,083M @ $16.40 fps (188M fps)
Wodgina Ind/Inf res 259.2Mt @ 1.17% Li2O (Prov/Prob res 151.9Mt @ 1.17% Li2O 160ppm Ta2O5)
Albemarle now purchasing 60% of Wodgina on an as is pre-production basis for Au$1.208B (US$820M) plus
Min receiving 40% of 1^st stage Kemerton hydroxide plant, Alb will cover/pay Min’s Au$663M (US$450M) construction costs totalling Au$1.871B.
Wodgina value per res Li2O tonne (~3.03Mt contained Li2O) = ~$1,029t or $617t for 60%

MIN 15/11/2018
Mcap $2,963M @ $15.76 fps (188M fps)
Wodgina Ind/Inf res 259.2Mt @ 1.17% Li2O (Prov/Prob res 151.9Mt @ 1.17% Li2O 160ppm Ta2O5)
Albemarle then purchasing 50% of Wodgina on an as is pre-production basis for Aus$1.59B
Wodgina value per res Li2O tonne (~3.03Mt contained Li2O) = ~$1,050t or $525t for 50%

I own LTR because I personally think it is the pick of the mix... Plenty of ex KDR holders have come over as of late that seem to think the same. If Lithium prices go up like expected when the boom truly occurs, many of these options will be a great success though.


All just my opinion. Please DYOR!!