We've just started the Plant 1 Stage 1 upgrade to release an additional 30kt to 50ktpa. Cost of which is ~A$15m.
Now we sign an additional offtake agreement for 40ktpa. Plus we received US$15m upfront prepayment (to be repaid over 3 years offset against future sales).
The difference between AJM and PLS was/is we have responsible financial management.
@Rupfel will be pleased to learn that CATL associate Yibin Tanyi are pleased with the quality of our product.
After signing the original offtake agreement (a couple of months after the CATL CR) with Yibin Tanyi, Ken stated in the Mar20 Quarterly Report:
“We look forward to working with Yibin Tianyi in the future as a key project partner to support their lithium hydroxide operations, including their proposed expansions from 25ktpa LCE to 100ktpa LCE over the next few years. The signing of this agreement is also testament to the strong relationships we have been building throughout the entire lithiumion battery supply chain, with some of the world’s biggest players like CATL"
The pressure of demand for our product is building.
@Miguel I was talking about how we would finance 30% of say 100ktpa LiOH plant and maybe more later on. Also financing Stage 2 (&3) expansions. That would be close to A$1b.
Revisiting the partnering proposal makes it easy and eliminates a lot of risk.
@timmi I don't understand what you are trying to say.
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