I think the discussion lately around pricing can be answered here .
Core Lithium Managing Director Stephen Biggins said:
“I am delighted that the conditions underlying Ganfeng’s Offtake and Equity
Investment have now been satisfied and I welcome Ganfeng as both a Shareholder
of Core and a world-class customer.We look forward to working closely with Ganfeng
to deliver our Finniss Lithium Project.
“Following the Core Board’s positive Financial Investment Decision for Finniss’, our
focus now is to commence construction and safely deliver Australia’s next lithium
operation in line with our schedule to produce first quality lithium concentrate by Q4
2022.”
Offtake
The Offtake is for the supply and delivery of 300,000 dry metric tonnes of spodumene
concentrate at 75,000tpa from Finniss over 4 years. The Offtake provides for pricing
referenced to the market price for 6.0% Li2O spodumene concentrate, adjusted for actual
Li2O content, and includes an agreed floor price. The Offtake adds to the previously
announced binding offtake agreement with Yahua for 75,000tpa over 4 years. Together,
these agreements account for approximately 80% of Finniss’ production over the first 4
years of mine life.
The Offtake commences on the effective date of commercial production at Finniss and
will cease on the date that is 4 years after commencement of supply. The Offtake can be
terminated by Ganfeng if the effective date of commercial production does not occur by
1 December 2023. The Offtake otherwise contains provisions considered standard for
agreements of this nature.
The Offtake is now unconditional following satisfaction of the following conditions
precedent:
• Chinese regulatory approvals;
• Approval of the share placement by Core shareholders (received on 17 September
2021); and
• Core entering binding arrangements for a minimum total financing of no less than
$80 million, which was satisfied by an institution.
Some on this forum trying to create fear.
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