Ann: FY22 Half Year Results Presentation, page-46

I believe another issue that many do not take into account is the differences between brine and spod and the optimal sales process for each. Brine is long lead time and production cannot be shut off or quickly ramped up. This requires selling the output of a largely continuous process and so it will work best with long term commitments by and to customers and agreed price determination methods. Spod, on the other hand, can be ramped up and down in days rather than a year and so can handle something closer to spot pricing.