As a big believer in the lithium story (and an avid believer in EMH as perhaps the best entry into this sector), there are a few observations I have to make regarding the announcement of 24 Sept. that Pilgangoora is the world's second biggest lithium deposit.
The resource outlined in the report is 668Kt lithium oxide, which according to my math equates to about 1.6 mt LCE. This doesn’t even come close to some of the other hard rock lithium deposits.
There are at least 5 hard rock deposits that I can think of off the top of my head that are significantly larger - Bacanora 7.8mt LCE, Western Lithium 7.5mt LCE, Talison 7.3mt LCE, RIO 5.7mt LCE in Siberia, EMH 5.5mt LCE. And then there are the brines - Orocobre has 6.4mt LCE. The world’s biggest brines are privately owned....and huge.
LCE is the norm that everyone uses when reporting a resource, so why doesn't PLS???
Something doesn’t quite add up in this report. Perhaps I am missing it and someone out there can fill in the gaps. I'd be pleased if someone can rectify my understanding of this matter.
I have no doubt the PLS team is well credentialed and know what they are reporting, but I just don’t get it.
As a big believer in the lithium story (and an avid believer in...
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