Ann: Binding offtake agreement signed with LG Energy Solution, page-411

’We will buy from you at market rate, that’s all’.

That’s the only thing this says.

LG’s image can not possibly be damaged if AUZ fails to find finance. All it will say ( if funding isn’t found ), is that LG made an offer which AUZ was unable to accomodate.

It’s as impressive a commitment as me giving someone who’s got some land and is talking about making a dairy a letter saying if they get up and running that I will buy the milk I need from them, but only at the price that Coles etc sell it at. The wholesale price- which is the lowest price for a finished product.

NAIF? AUZ has been under due diligence by them for how long now? 3 years?

So many bankers etc here but the answer to 3 - 2 = ? is still a mystery....

SK:
1. ‘We will buy your goods’
2. ‘we will buy in to your company’.
3. ‘Here is some collaborative support in creating your BFS’

LG:
1. ‘We will buy your goods.... but not even the sulfate that SK was going to buy.’

I hope it comes off but let’s stop pretending it’s not a weaker offer than the one that failed a few years ago.
This stops AUZ form offering anyone else a deal which is tied to an offtake. The lower return MHP pathway makes it harder to get funding than the time it failed with SK.