Please no one ask for Moon's post to be moderated for baiting or any other reason. It needs to stay to remain on the visible digital record.
Perfect example of the difference between the 2 forums.
At least they have (finally) learned the difference between production and sales (shipments). All that nonsense about selling production before PLL OTA blah blah blah ... 4 shipments ... guess the assumption is 30Kt ore carriers but not necessarily.
Great if SYA can get 230Kt out of NAL (without0 spending extra capital ... referenced multiple times
"The restored NAL plant has a target annual nameplate capacity ofup to 226,000t of spodumene concentrate."
Now, not to spoil the party but ...
1. Target is not Actual
2. Up to is not the minimum it means maximum
3. Spodumene Concentrate grade was never referenced ... hmmm ... that is a red flag ... could be 226Kt of SC5.5 ... that needs clarification.
Also, don't know if anyone recalls the earlier rhetoric about Carbonate in 2025 ... looks like SYA prescribing a FORECAST of Carbonate in Jul - Dec of 2026. My annotation on the INDICATIVE TIMELINE.
The whole presentation puts forth "Carbonate" as a foregone conclusion (now if a new plant takes 2 years a half finished plant would take just 1 year - right? - and probably why the earlier rhetoric on Carbonate by 2025).
There has been nothing presented that is based on economics. WTT put up a post which put some further color around what we have been saying. In a $5,000+ SC world you want to maximise the value of your base product (SC). It takes more SC to make Li2CO3 than LiOH. So you have to put all the factors in to figure this out as to which has the greater economic value (and to GoC who collects taxes etc more value is more tax revenue). There's also a "historical aspect" here ... both NAL and Moblan were originally SC producers exporting to China who were going to produce Carbonate (not Hydroxide) from SC.
There isn't much doubt that downstream will happen ... but nothing on how this is implemented inside the JV (and I don't believe in magic). The external view is easy. Obviously if you have a jointly owned (is that 75/25 or 50/50 or 25/25/50 or 35/35/30) downstream plant you would prioritize shipments to that. Also been previously noted that surplus SC then goes to the offtake with Piedmont.
Sharing "shipments" doesn't mean half the ore in the ship is SYQ's and half is PLL's. It might if its going to the same port. It might if its railed to a common destination. The JV will sort it out and it will show up in the company's financials.
Real Cash Flow coming in Sep Qtr. Yay!
(20min delay)