Phoenix Water - PXW - Lithium - 100x, page-836

It's quite extraordinary that Abermale's latest offer fror LTR is equivalent to $2,900/t of attributable LiO2 resource, according to a research note I read. That's equivalent to A$1,172/t of LCE on my calculation, using a conversion factor of 2.473 for LiO2 to LCE. That's a big premium compared to an unrelated offer for Essential Metals, valuing that target's attributable LiO2 resources at A$1,125/t, equivalent to A$455/t of LCE.
LTR's valuation at A$1,172/t LCE (conditional on DD), amazing as it is, might still increase further with speculation of a likely competing bid.