Refer to my above post about the NAL stalemate.
Would you rather:
1) a 113ktpa offtake @ US$900/tonne + 25% of the rest of production; or
2) 100% of the NAL operation which could potentially be expanded to 350ktpa+? (pure speculation on my end, but the resource is there to allow this).
NAL isn't getting expanded anytime soon for as long as SYA are paying 75% of Capex to receive the minority economic interest in the expansion, unless it goes hand in hand with PLL agreeing downstream refining plans.
PLL General Discussion, page-1531
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