Primero confirms Sayona intends to build hydroxide refinery at Amos, page-125

You've pretty much covered all the options. But there is another way as well. And maybe the market is thinking that right now by the look of the SP. Piedmont is finished in my view. And as much as folk want to say that SYA is downgraded for its JV percentages , it's got a whole lot more with significantly less sovereign risk that they do with their ' Patch Work ' projects and their too little to late move into Newfoundland.

With respect to a consolidation , it would require a significant blessing from the retails component and would likely get voted down at this stage. I definitely would vote NO for that move right now. But there is definitely another move at their disposal. However decisions would have to be made quickly if they haven't already.