Mining analyst with @AdamasIntel
Vancouver, British Columbia
Joined December 2016
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hats off to $WC8.ax for looking at all opportunities at Tabba2 in detail, but nows the time to regroup, max IRR (2mtpa open pit) instead of NPV (+underground, 4.5mtpa expansion, petalite, tantalum).
The latter adds unnessessary capital (at low returns) and execution risk
The lads are onto it $LPM.ax $CXO.ax @moneyofminepod
It only makes sense for 1 operator here, and certainly not Lei's underground DSO operation touted in the PEA
POSCO completes $954M Phase 2 at Hombre Muerto site, Argentina. Almost as much as Ganfeng spent on Mariana 🤔 Brings +23ktpa Li2CO3 to be converted into LiOH in Korea
newsroom.posco.com/en/posco-…
It’s been quiet on the $GLN.ax front. Today’s ann suggests the nanofiltration is working, but it’s underperforming due to a P99 winter. Authium adding redundancy. I’m quietly confident most of the technical risk is behind this one.
Christopher Williams retweeted
Incredible things happen in China every day. A driver came across a driverless electric cargo truck that even doesn't have a cab!
$LIFT.v Renard is in great nick. Imagine buying C$900M+ of infrastructure for pennies on the dollar, re-tooling it for 1/3 the cost of a greenfield equivalent.
$GL1.ax just did exactly this (on paper), and sold at 73% more than the market was pricing it. 🤔
$GL1.ax cash acquisition @ 73% premium by UAE outfit Titan Lithium. nice. I am glad to have highlighted the value in this craftfully reinvigorated project 🇦🇺🪨⛏️
$GL1.ax Manna-Nova numbers out, CAPEX -$200M OPEX up $110/t as predicted here linkedin.com/posts/cdw4870_g…
Huge uplift to overall economics.
$LIFT.v has access to this very same magic strategy in Quebec
Massive lost opportunity if this incredible asset (Centenario) is sold down to a PE-style group, instead of vertical integrators.
Even if it’s a minority stake, get a foot in the door, build the relationship, co-invest in S2. Few have the DLE expertise $ERA do.
A solid primer on rare earths and China's weaponization of them
Brilliantly communicated 30 min video on rare earths that everybody on earth should watch
youtu.be/BXLGV0Sj0n8?si=KuXo…
$VUL Phase 2, urban edition. This is the project BASF showed interest for the heat offtake. Generates 6x more heat than P1, in part because VUL are not generating electricity this time= 15% lower capex intensity. Also targeting a Li2CO3 product. Constructive for EU.
Vulcan is pleased to announce the completion of our Preliminary Feasibility Study (PFS) for Project Ludwig, a proposed second phase of integrated lithium chemical and geothermal energy production.
🌍 Located in the Ludwigshafen region of Germany’s Upper Rhine Valley Brine Field, Project Ludwig is approximately 60km north of Lionheart, our first phase of production which is already under construction.
Project Ludwig will leverage the same regional brine system, proprietary lithium extraction technology platform, in-house drilling capability, permitting experience, and delivery organisation. It will target capital efficiencies and other cost savings due to single site plant integration, local use of internally generated heat, as well as knowledge and skills transfer from Lionheart.
Managing Director and CEO, Cris Moreno, commented: “Project Ludwig represents the strategic next step in our phased development of the Upper Rhine Valley Brine Field. We’re applying the technical, operational and commercial blueprint of Lionheart to a second development area with similar resource and geological characteristics.
“The growth potential of our assets is significant, and supports the potential for numerous future phase projects, where our engineering and construction teams can transition between developments.
“We look forward to advancing Project Ludwig using our existing blueprint in the same brine field, with the same bankable lithium extraction technology. In doing so, we're creating shareholder value without taking our focus away from delivering Lionheart. The PFS allows us to deliver on this plan.”
👉 To read the full announcement, go to bit.ly/4yn7jWh
$LTR probably should have just farmed into Eramets next build. Would have saved like 10 years of development
Barometer check on Australian politics. By-election in WA sees 18.6% swing from Labor->One Nation abc.net.au/news/2026-08-30/o…
Effective illustration by @matt_fernley
This is why growth stocks trade a higher multiples
In my perhaps simple-minded view, producers tend to trade on EV/EBITDA, developers p/nav, where a $LAR has both one should just sum the parts 🤷♂️
As said b4, mkt is giving CO2+PPG $0 atm
The equity market doesn’t seem to want Argentine lithium brines. The lithium industry does.
Our latest free report asks why - and why some of the lowest-cost, most scalable and hardest-to-replace assets in lithium may be materially undervalued.
link.rkequity.com/arg-brines
How’d ya be. Sell 30% of a perfectly good lithium business in the dying breaths of the lithium winter, and then look to buy scraps like Mt Cattlin $MIN
Remember folks, Quebec spodumene is, and always can, ship to China, during rain/hail/shine or even in the depths of winter
$qtwo $pmet $lift $elv
instagram.com/reel/DWHScEgCV…
$LAR and $LIFT are clearly under appreciated at these levels.
Developable, whole-of-salar assets like PPG are incredibly rare and have independently traded as such in times past
$LIFT will arbitrage $1B of sunk capital to bring much needed Quebec spod to market
Lithium prices have nearly tripled from the lows. Majors have upgraded demand forecasts. Yet some equities still lag.
Mac Whale joins us on why valuation methods can miss growth, where lithium discounts persist, and which names look most mispriced.
📺: youtu.be/PwVIVo2V2V8
Payability of spodumene (SC6=~8%LC) has largely been determined by the capex intensity of Australian miners and Chinese refineries, which are fairly equal such that profits are split ~50:50.
The discount $ELV can offer on spod is capped at shipping costs to China since they can always sell into spot mkt
Therefore a Mangrove therefore needs extremely capital efficient tech, like HALF Rio Tintos stated capex. It SHOULD have competitive opex using Quebec electricity
