LLL vs A11 vs CXO vs LTR - July 2023

Another month since posting the last lithium comparison table;

• Leo Lithium (LLL.ASX) up 24%
• Liontown Resources (LTR.ASX) flat
• Core Lithium (CXO.ASX) down 2%
• Atlantic Lithium (A11.ASX) down 23%

Another strong month for LLL.

See below the latest lithium comparison table of LLL vs A11 vs LTR vs CXO at new USD $1500/t long term SC6 price. The updated table also captures recent updates from LLL (ie. 211 MT resource) as well as inputs from the A11 June 2023 DFS.

Despite the recent gains, Leo Lithium still has significant upside compared to its peers, trading WELL below NPV. Numbers shown are conservative for LLL too as I haven't yet captured the revised expansion of Stage 2 from 830 ktpa to 1 MTPA SC6, per announcement 29th May 2023.

Few big catalysts this quarter - including targeted first revenue from DSO (huge milestone), reserve upgrade next month (existing 52MT @ 1.51% Li2O reserve is based on the original 108 MT resource) and hopeful resolution of the FFX situation. ASX200 is not too far off the cards too if we can keep the momentum going - one day at a time.

LLL will continue being a momentum play as we head towards DSO revenue and ultimately SC6 production in Q2 2024. Being a producer at lowest quartile costs means we will generate significant free cashflow going forward, which will only support the share price.

Twitter post: https://twitter.com/dgdgdm_/status/1680728090987888642?s=20