General Discussion Banter GLN, page-14484

Sorry Tiger, only logging back in now post your question re Glencore binding contract.

This has possibly been answered across the various responses over the last week, but in short, a loan agreement can be 'binding' but can also be revoked and re-negotiated if material assumptions and information change. In this instance, the central assumption between the parties would have been the DFS and a medium term Li price of $25,000 (now $13,500).

Personally, Glencore did not need to be shrewd or predatory to renegotiate the terms with GLN in this instance. That said, Glencores new terms may not have been commercially acceptable to GLN. Conversely, GLN may have not out and out rejected these new terms & therefore not required them to make a disclosure to the market? I am guessing part of Glencores terms were for GLN to have an additional cash buffer for the loan to proceed. Correspondingly, once this cash is raised, GLN may choose to re-engage with other lenders?