Definitely downstream processing will bring the greatest rewards but I think that is still some time into the future. For me we will see fair value when we build the 4MT per annum plant, upgrading from the planned 2MT plant. Catalysts for this could well be greater needs for our lithium due to downstream processing joint ventures or simply just a world shortage of available high quality low impurity ore.
At the moment we have the second biggest deposit of hard rock spodumene in the world but it is only of value if we are selling it. A 4Mt or 6Mt plant would increase our income and set us aside from the others.
The target to build this 4Mt plant is in the 3rd year of production but I (and I'm sure I'm not alone) would welcome an early upgrade decision and announcement. It is very possible. ;-)
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