We have sold 40% of product (I suspect this will only be 20-26% after the DFS but that is an aside). We have pricing power by using carbonate prices and not spod and we have started a vertical integration chain. We issued 35.5m shares at a 30% discount (to the current price) so this deal "cost" us $7m dollars.
So essentially the question becomes is the details of the BOA worth more to PLS than $7m versus a straight up deal where we sell product to the company based on spod prices (not carbonate prices) and that's it. My F'in word it is!
Ann: Binding Off-take & Downstream Processing Agreements-PLS.AX, page-80
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$2.69 |
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