Ann: Termination of TLEA Scheme implementation agreement, page-6

That only apply for 4 months. Once they're off the 4 months period, they could offer below purchase price.

Very surprised TLEA didn't put up a fight for this. Unless they're trying on a different strategy eg. using Greenbushes parent (MIN/ALB/IGO) to make the offer. Though very unlikely.

So ESS is fully exposed to MIN alone, which benefits MIN if they could wait 4 months out and make an offer price lower than purchase price.