RE:98% chance of failure / EXPENSIVEdeepoil - think you may be misunderstanding the comment that 'chances of finding lithium that leads to a mine are 2%.'
I suspect Killian meant a 2% chance per each distinct (separate) cluster of LCT(?) surface rock locations that has signficant lithium content, or perhaps 2% per each distinct LCL pegmatite swarm, or 2% fore each really long and wide LCL pegmatite.
If BRW has 100 such locations, I think I'd 'times the 2% by 100' and infer that IF BRW has the resources to explore them all, there's a real good chance they'll get at least one that will be worth building into a mine.
Whether BRW has or could raise funds to sufficiently explore 100 separate 'occurrences' is a totally different question. Some companies are able to raise capital in decent deals even in tougher times, and some companies are really lousy at it.