Ann: Quarterly Activities Report, page-12

Thanks for clarifying this. But given the huge price difference between technical and battery grade, why doesn't Orocobre find other customers who want battery grade material and pay accordingly? It can't be because they have such long term contracts with existing customers, or can it be?! I don't think that operating the purification circuit can be more expensive than the huge price premium that battery grade material can achieve over technical grade product. Or what is the most likely explanation in your opinion?