banksy808, you are a dreamer.
The 3 conditions are written equally and not conditionally at all.
•Binding offtakeagreement for acquisition of up to 60,000 tonnes per annum (tpa) of spodumeneconcentrate from Sayona Québec to supply Piedmont Lithium Project in NorthCarolina
Piedmont has also agreed a binding offtake arrangement under which it will acquire up to 60,000 tpa of spodumene concentrate or 50% of Sayona Québec’s production, whichever is greater (“Supply Agreement”). The Supply Agreement is for Sayona Québec’s life‐of‐mine operations and is based on market pricing with a minimum price of US$500/t and maximum price of US$900/t on a delivered basis to Piedmont’s planned lithium hydroxide plant in North Carolina.
The Supply Agreement is conditional upon Piedmont and Sayona agreeing to a start date for spodumene concentrate deliveries between July 2023 and July 2024, based on the development schedules of both parties.
All must be fulfilled, if one side declares that it cannot fulfill this in the agreed form, then it does not fulfill the contract. Since the plant in NC was still in the stars in January 2021 ( and the condition has not changed until today ) it was logical to write of a planned plant in the contract, but in no way a condition unequally weighted to the other conditions that can be changed unilaterally.
Your claim: "launch will be satisfied" contradicts the fact that PLL has no state licenses for either of the two planned plants to date. There is no definite feasibility study yet, there is no definite financing commitment yet, there is no definite management decision yet when construction will start. But there is PLL's statement: we need 2 years to complete a plant.
But: there are broken supply chains and inflation of officially 8.6% in the US, in reality it will be more than 10% per year for the building and construction market. Plus unknown delivery delays. Then comes the trial phase, customer labs have to test quality in bulk batches, only after that will there be a delivery release from buyers and production can be ramped up.What follows from this: we will write later than 1.1. 2025 before PLL can start any saleable production.
In order to achieve this, everything, but really everything, must run optimally for PLL from now on. However, everything comes too late for the contract with SYA.
It is not enough to stubbornly claim, like in kindergarten, that no matter what is written in the contract, we will pick out what we need and the rest is of no interest to us.
(20min delay)