Chilean lithium brine drill about to start. It is next to SQM the world's biggest lithium brine producer. Around that area has grade 1800 mg/L brine concentration and density around 1.2.
Geophysics so far identified 600-700 million cubic metres of low resistance brine. IMHO very likely to increase the size of lithium brine volume in several folds in the future. If BMG gets 1000 mg/L, 700m cubic metres and density 1.0, we are looking at 700K tonnes of lithium.
It will examine using direct extraction (Lilac) instead of evaporation method which takes 2 years. Lilac direct extraction takes only 2 hours and can produce both lithium hydroxide and lithium carbonate directly at low cost.
Similar companies with much lower lithium grades trading around $40 million market cap (about 10X BMG current value).
