People want to see these projects built. And the names that are going to be attending this, I think will resonate not just with investors, but the larger lithium industry. And that the work that we’ve been doing over the last seven years with Arkansas and Smackover the best lithium resource to build the North America is coming that fruits coming to bear now. So yes no, thanks for bringing it up, Peter. Yes, anyone that’s in Arkansas or in Little Rock, I think the event is sold out. Initially, we were looking at a couple of hundred for attendance, but I think they’ve pushed it over 600 now. So sold out event, great names, and I think we’ll get some good traction in the media, on why this is the best resource, to bring to market anywhere in the Northern Hemisphere.
Peter Epstein: Okay. Thank you. Can I ask another question?
Robert Mintak: Yes, no, please go ahead.
Peter Epstein: In East Texas, can you give us a better sense of the scale? Obviously, the grade is three times what the Lanxess grade is. Can you tell us how many acres, for example?
Robert Mintak: I’m going to bring Andy in on this question. He can go into more detail on the work that we’ve been doing in Texas. And then also our path to being able to inform the market on how globally significant this resource will be. So I’ll pass it over to you, Andy.
Andy Robinson: Yes, thanks, Robert. Hi, Peter. Yes, in general, we’ve not released any information yet, Peter, regarding the scale of what we’ve got on the ground. We’ve announced some data from the three exploration holes that we drilled in the formation in 2023. The data from those showed certainly nationally and likely globally significant lithium brine resource. What we have been doing over the last three years now is figuring out where the very best areas of the resource are in terms of porosity, permeability, lithium grade, et cetera. And we’ve been leasing and securing those, the very highest quality areas in the East Texas, Smackover formation. So scale, not in the public domain yet, Peter, it is significant. Certainly, you know, many x of what we have in South West Arkansas.
And so large scale, very high quality. We’re doing the work at the moment to strategically expand and firm up our leasing position and our site control, and asset position in the area. And as we mentioned earlier on in the call, we’re really hoping to have the first of the sort of resource reports out before the end of this calendar year. So that work is underway. And I think I think everyone will find that very interesting and again, potentially very globally significant resource that we have control over that.
Peter Epstein: You drilled three holes. How many more holes might it take to get to that main resource?
Andy Robinson: For the first resource report, Peter, that’s all we need for now. So, we’ve done sufficient drilling to allow us to get to that first stage of resource definition. There will be additional wells drilled over the balance of this calendar year and into the next calendar year as well. In order to expand and continue the definition process, as we increase technical certainty of what we have in the ground and the economics of extracting and processing from it. So, there will be ongoing drilling that will take place when allowed and when permitted, et cetera. But we have sufficient drilling right now to move to that first resource study.
Peter Epstein: Last question. Can you possibly monetize the potash and the bromine in East Texas?
Andy Robinson: That’s part of the work which is which is underway. So the – drilling work showed very high levels of potash in the brine. And similar levels of bromine that we know are extracted in Southern Arkansas. So with the scale of what we’ve been leasing, we know that there are substantial both bromine assets and potash assets in those resources that we have the rights to in East Texas. We will continue as we move through that project definition stage to look at the economics, of extracting those resources that we have the rights to. And that will be part of our initial economic assessment, to look at the value of those. And hopefully provide some clarity to the market as to what value can be extracted from those additional chemical components within our brine resource.
Peter Epstein: Thanks very much, guys.
Operator: We have no further questions in our queue at this time. And with that, that does conclude today’s conference call. Thank you for your participation and you may now disconnect.