Hi Ozblue I haven't plowed through threads on PLS but you seem...

Hi Ozblue I haven't plowed through threads on PLS but you seem to be the one who could clarify why I'm getting a 1 million tonne resource x US$451/t concentrate, or lithium worth US$451M .. not looking for a flaming just to understand what I have missed. See below Ocean Blue PLS company overview released 22 Dec 2015 .. page 18

"But Pilbara Minerals will not be producing lithium carbonate, but rather an intermediate product known as lithium concentrate (spodumene). While we were unable to obtain concentrate prices for the last 12 months, we have been told
that historically, the lithium concentrate price has traded on a 57 - 59% discount to the lithium carbonate price.
The following worked example illustrates the conversion calculation:
- Lets say the prevailing lithium carbonate price is US$8,600/t
- Apply a 58% discount gives a lithium concentrate price of US$3,612/t LCE
- Dividing by 8 gives a lithium concentrate price of US$451/t conc
( a useful rule of thumb: 8t of 6% lithium concentrate makes 1t of lithium carbonate) "