But in order to get it to a BFS stage and for funding the resource largely needs to be at the Measured & Indicated, if not a reserve.
Pretty sure Oz minerals(Oxiana at that stage) were able to self fund via their cashflows from Sepon at that stage, so less of an issue for them. Not sure re TAW but based on a quick look their CAPEX requirements to get into production was $25M and they are producing and selling their lithium product this year. If you expect CLA to only need that much funding then yes you may have a point.
Ultimately if the end product was just a was the floatation conc and didn't need roasters and/or autoclaves to make it a salable product it would look more interesting.
The possible requirements of roasters/autoclaves etc will add significant additional CAPEX/OPEX costs, that is why I'm looking forward to seeing the scoping study/PFS to clarify these points.
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