Sorry, I thought my comments was that Brine projects are higher capex and higher operational risk, compared to crush/screen/float. ORE has had operational issues in my view because the brine extraction process is complex. Two stages of precipitation from liquids is a lot more complex than screening out spodumene from waste.
My comment is GMM has lower operation and capex risk in my view than GXY, as at some point GXY will commit to capex for a brine project. NMT (via MIN) is building a 2mt spodumene circuit, with front end designed for 7mt throughput from memory) - for about $50m. Argentinean peso falling would help capex in country, of course, brine projects are still in the hundreds of millions of dollar, not the 10's of millions.
Is this comment really irrelevant?
Also - Grades are low vs Greenbushes, but spodumene market is so tight at the moment, Chinese processors are taking 4% con, vs 5.5-6% con from Mt Caitlin.
GMM Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held