Ann: Update on Product Offtake-PLS.AX, page-324

I'm not stressed at all with the SP drop. People are simply panicking because they don't understand what's happening. So here it is in lamen's terms.

Pilbara bought the land from GAM where all this lovely lithium is buried. Within this sale an agreement was made that when PLS started selling lithium, GAM would get the right to match any price that any third party offered first with a 45 day limit (This is a good thing. It means PLS either sells its lithium to a third party or it definitely sells its lithium to GAM - it's a win/win).

Fast track a little bit, and a spanner has been thrown in the works. Along comes MIN and they acquire GAM. Now MIN want the Right of First Refusal (ROFR) that GAM had in place. (Again, great news. Now GAM wants to buy too, so PLS either sell to a third party, sell to GAM, or sell to MIN- win, win, or win).

So does any of this matter? No. All it means is that PLS will either be bound to the original agreement with GAM and sell its lithium, be bound to the same agreement with MIN and sell its lithium, or be bound to no one and sell its lithium. Either way, it's business as usual and PLS now have two buyers fighting hard over over first bite of its lit.

Add to that, the market is now in massive turmoil over this (look at today's volume for gods sake), so PLS is being heard of across oceans and seas. This is actually GOOD PR - the PR we've been needing.

Hold your damn shares or buy more if you can afford to. This is annoying, but it's good news. And nothing has changed for PLS' future. We are not going broke. We are not being taken over. We are okay.

Disclaimer: I know I've missed a lot of details in the info above bit I've tried to keep it very simple for the masses.

DYOR as always. I'm just a guy.