Ann: FY24 Half Year Results, page-80

When SYA made its bid for NAL its MC was around $25m, concentrate around $US400t and PLL helped them secure it , an OTA was part of it, there is no free lunch. There are endless wannabe CEO's on HC who think they might have secured a better lunch but they also might not have secured any lunch at all. We will never know so is largely a pointless discussion around ego's.

75% of a mine ,a processing processing plant and refining assets that were put into production in record time already is considerably better than having Authier as your only small and isolated asset.

At 226,000tpa there is money to be made by both companies when profitable and the higher the price the more both make ,at the moment the OTA favours PLL, at the refining stage it favours SYA, at recent prices it favours no one, both partners need the plant running profitably .

You need to get over the OTA, it's been known about for years by anyone investing in SYA and has basically enabled a foothold in the sector while there are many still struggling to do that.

If anyone around here thinks they could do better there is a CEO position coming up for grabs but if one could do better you wouldn't be wasting time posting on HC.

The price of spod is $US150t off its recent low and IMO that would be breakeven or better so very encouraging , but shipments need go through at that price or better from now on out and wont be reflected in the bottom line untill next quarter.

Lets get past what the review throws at us first and then see where things are..

Cheers Whisky