The offtake agreement is a separate commercial agreement, it would have nothing to do with a shareholders agreement. I will give you an example - if SYAQ had another onerous off takes (I'm talking about the other 50% of production). Say we were selling 113,000 at a loss of $400. If these were loss making would PLL expect SYAQ to continue making a loss (let's assume there was no OTA with PLL), thus putting PLL investment at risk ? Sure there are protections for JV partners, but not to the extent that a minority shareholder dictates strategic operational precisions. I'll say it again I've never - ever saw a minority shareholder having a veto over majority shareholders. Never- this I indeed would be crazy. Additionally, if we were selling at a loss, the cash burn would be so serious that JV partners would have a cash call. So PLL would hectares to subsidize their proportionate loss making position (eg 25% holding )
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