Admiralty Resources actually owns leases at Olaroz.
The following is from Highlights 'Financial Report Dec 2005"
"Admiralty acquired tenements covering a surface mine at Salar Olaroz salt lake in Argentina. This tenement is close to the Rincon Salar Argentina tenements already owned by Admiralty Resources. The new tenement will be used to mine ulexite, from which boric acid and sodium tetraborate will be extracted. This is an opportunistic acquisition in line with board strategy of developing the Rincon Salar salt lake or economic tenements located close by. The board has computed that the 230,600 tonnes of boric acid equates to US$92 million at current long term contract prices of US$400 per tonne."
ADY would have had the opportunity to own other leases but it would make no sense to have the aquisition and development costs for a second Lithium deposit when you own an almost limitless reserve already.
Orecobre have just pegged out a few leases but it will take years and lots of $ to 'prove-up' and bring to production.
ADY are already producing 10 tonnes/month with full production within twelve months.
ORE may be interesting in five years or so if they manage to meet all the requirements... ...but there really is no comparison at the moment.
ADY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
