General Discussion Topics, page-38810

I wouldn't want to hire you as a lawyer Andy!

"The Supply Agreement is conditional upon Piedmont and Sayona agreeing to a start date for spodumene concentrate deliveries between July 2023 and July 2024, based on the development schedules of both parties"

This does not at all state that no facility results in the cancellation of the offtake. It states that the commencement of the offtake is based on the development schedules of both parties. Now if the offtake was at market prices, if you were Piedmont you'd probably just forego the offtake agreement, as you don't have the need for the ore anyway. However the offtake is at ~30% of current market prices, so if the offtake is valid you clutch onto it with all your might....

There's ambiguity, which we can't answer until we either see the contract, or definitely hear clarity, ideally from both parties.

As I've mentioned previously - the revised Authier/NAL DFS expected in the coming month hopefully will provide clarity - given the offtake agreement has pretty key impacts on the NPV calculations.