Well done team PLS, I like what I see in today's announcement. Its clear to see all the negotiation points in the deal, including protection, thus can see why inking the deal dragged on for as long as it has.
The option mechanism to increase JV stake from 18 to 30% seems very fair, not to mention spod sales will be at prevailing market prices, with a $25 mill pre-payment, clearly emphasising that "security of supply" is still paramount.
Once again, well done team PLS, now on to the 3rd BMX auction.
Ann: Pilbara Minerals Finalises Agreements for POSCO DSJV, page-55
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