Yes its huge, one of the reason behind is they are set to commence production in 2024. It appears to be a Done Deal now, as the LTR management has requested shareholders to approve it.
Industry wise few other developments are:
- Canada based E3 Lithium has successfully transitioned from energy to lithium and has initiated a pilot DLE plant. E3 has announced lithium resource of 16.0 million tonnes LCE with a concentration of 79 mg/L. The stock is trading at a new high with marketcap of $250 million and $1.2 billion NPV.
- Also, major players in the industry have encountered blow-out in CAPEX. Wesfarmers and SQM are set to commence production in 2025, but project costs risen to $2.8 billion. Similarly, Mineral Resources is expected to see an increase in CAPEX to $2.8 billion.
- Based on industry wide numbers, It appears that the Phoenix's CAPEX may range between $2.5 billion to $3 billion for 60,000 tpa capacity.
- During a podcast on RKEquities, one of the CEOs remarked that securing $1.5 billion in funding for a lithium project isn't considered substantial.
https://finance.yahoo.com/news/standard-lithium-announces-positive-preliminary-100000963.html
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Phoenix Water - PXW - Lithium - 100x, page-807
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