Lithium & The Future, page-3576

I'd love to see someone non-Chinese. Perhaps even PLS's POSCO or something of the sort. South Korea or Japan would be good for diversification. Remember that James Brown stated that they want to do Stage 2 in two phases. Course first which is easier to ramp up and with the experience of stage 1 should be pretty straight forward. Stockpile the fines and sit on 330kt/y for an additional A$60mil input as opposed to the full A$120 mil. Agree that they need to make sure they don't over-extended themselves. Get stage 1 running above spec with solid margins, refinance the current loan and perhaps then look at Stage 2. Perhaps the refinancing could be part of its.

Turn
$170 mil at 15% = $25.5m/y at 220kt/y
into
$230 mil at 10% = $23m/y at 330kt/y
or better. Stage 2 funded.
The extra 110kt/y would obviously make this much more attractive along with the lower interest payment.

I'm sure AJM are mulling all these options.