General Discussion Topics, page-102018

I'll hand it to you Arf, you are the master of deflection - and please take that a compliment. I don't know if you listen/read through analyst calls and interviews, but the best (?) responses given are those that further progress the narrative of the Interviewee, even if it does not address the core of the question - as long as it is mildly connected to it. So kudos - you managed to return to your narrative that PLL is, shall we suggest "capital constrained" (why else the "How is PLL going to pay for it? and "Its not as far off as you think?) and that PLL is the villian for SYA's woes (not that I think either half of that is true).

Nowhere in my post, and I mean ABSOLUTELY NOWHERE, was I ever talking about Capex. It was a discussion @GT3loui around carbonate and OPEX (note I even said opex is going to be key). Then you choose to make it about how PLL is going to fund their share of Capex ...

1. How many times does this forum need a battle with PLL at the center (because it sure looks like that's what youi want - and your response certainly shows that .... "And, quite actually, I would not be surprised whatsoever if it comes out that the fiasco with the delayed carbonate PFS, lack of OT agreement, et al., was caused solely by PLL."

2. And start the same old trench war of "who stands to lose the most once the carbonate plant is up and running?". Back to that. You don't know that and of course you may be right or you may be wrong and "gutted" if it aint so.

3. For all the complaints about PLL, the bulk of the discussion about PLL begins wiith SYA posters. You know very well (or at least by now) that capital ony comes from 3 sources and that is

1. Equity (which SYA has tapped - frequently - yes that was a jab) in its various forms but simply raising common equity being the most popular, with a JV being next most popular (which involves the sell down of project interest and also used by SYA)

2. Debt, which of course has strings attached (no free lunch, unless its a grant, which is as close as it gets and which PLL has gotten for TLP - yes another jab just, well just because)

3. Free Cash Flow ... so cash left over after all the bills are paid, including shareholders (and FCF does not mean EBITDA). Money that can be reinvested in the business to further grow the business and making the company more valuable.

While I don't mind fencing, there a many here that bristle at the mention of PLL, so maybe let's move off this particular topic and onto another ... which is bound to come along soon enough.