A lot of similarities
Repeat discoveries will get it to closer to LTR jorc- which is 156mT resources or Reserves is 68mT. Expect it to settle somewhere within that range. Higher than 100mT isnt much difference in terms of spodumene production once you are at this level. Realistically i dont expect Aussie miners to produce hydroxide, overseas countries have a competitive advantage in the manufacturing side of things.
Distance from port- both are highish- DLI is better than LTR here, LTR is 748km to Geraldton, DLi is about 480km to Onslow WA, a reasonable difference.
Grade- DLI's grade is improving and should be around LTR's 1.4% grade.
Both are WA focussed. Both 100% owned. AZS is 60% owned and very close to port circa 30km from Point Samson, not directly comparable.
Time to market- LTR is a few years ahead obviously, its starting production in 2024. but this is in the valuation.
Ive ignored the Mt ida project, AS ive ignored LTR's buldania project.
LTR valuation approx $6.5BN. DLI is $500m.
A lot of similaritiesRepeat discoveries will get it to closer to...
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