Saturated, page-57

Unfortunately the reality of the only other significant miner of Lithium on the ASX has set in. Very few mines actually achieve nameplate in the first 24 months (Iron ore being the only exception because of the simple process). I perceive the only reason that GXY hasn't sold the total projected Li for the first 12 months is for this reason exactly, while they have stated they will be selling this excess to the open spot market the reality is that this is the breathing room that is needed "if" nameplate production is not achieved.
This is my only Li investment and I am a believer, but the reality is that Mt.Caitlin is not a $1bn operation even at nameplate. There is still a huge amount of speculation priced into the sp looking towards SDV and JB.
Looking ST, once the merger is sealed and the DFS of SDV is realeased I can't see any reason that the SP wont breach 60c+ but it could get quite ugly in the very short term.
Skorz