I like it that ORE are not going full steam ahead with the...

I like it that ORE are not going full steam ahead with the expansion, as they are still learning how to run what they have. When they have everything running well, they will be in a position to not just expand based on their current plans, but maybe to further expand as well IMO. Even better if they can get permits to set up at another location (or locations) at Olaroz or Cauchari where apparently the chemistry is very similar.

I'm sure there will be a lot of bumps on the way, but they can "own" that region if they can take advantage of what they have learned. Olaroz and Cauchari are not as low cost as the Atacama, but once permit availability is taken into account, and the environmental factors (could be that more can be drained than around the Atacama due to the low pearmeability from the basin to the water table), it might be that ORE can safely expand to become much larger than 35ktpa, if they take a cautious and measured approach, and don't get knocked out during any possible Li price dips.

I suspect somebody with deep pockets will recognise this, and value them more for having the plant/tech under control, than for their plans.