Ann: Wodgina Project Update, page-10

Look at the way they're structuring the downstream processing. They might sell 49% of the mine, but they're keeping the majority of the downstream value add.

The potential buyers of the 49% want the product, and assurance of supply. They'll be willing to stump up a 'market' linked price for the output. Ergo, by the structure, MIN dig it up for them, 'deliver' the ore to them, then they hand it back to MIN, who then process it into an input to their cathode/battery production process.

Note the bit of the announcement where they describe doubling the value, from ore to 6% concentrate, then doubling it again, from concentrate to Lithium Hydroxide.

Then notice how they slowing the production/shipment of the DSO - they're actually 'storing' the ore, and waiting to process it into 6% concentrate - and very soon.

The whole show is about adding value, and MIN are structuring up to capture what value they add.

Brilliant!