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Lithium Related Media Articles, page-18436

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Lilow

9,194 Posts.

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19/09/23

09:31

Post #: 69910869
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Originally posted by ElectricMike ↑

This article or summary is not factual regarding the relationship between Chris Elliot and Albemarle, and I would expect the truth is better for LTR shareholders.

In the original deal between MIN and ALB, Albemarle had the right to market all of the Wodgina spodumene concentrate and the intent to sell it all as Lithium Hydroxide in China.

MIN chafed at this deal because they though ALB was being too conservative with contract pricing and on one renegotiation of the deal Chris gained the right to market his own spodumene concentrate from his share of Wodgina at spot pricing (his share has varied over time between 40% and 50%). ALB has stood ready with plans to process all of that Wodgina spodumene concentrate into Lithium Hydroxide.

HOWEVER, Chris preferred in the final renegotiation to take his share of spodumene concentrate and ore directly to China and negotiate sales on his own. Another friction point was that ALB wanted to maintain SC6 concentration and this gives MIN the out to sell its share at something closer to 5.5%.

All of the above is more or less publicly available info if anyone wants to go looking.

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It is clear you either work for ALB or associated to them in some way. Are you man enough to admit honestly?

LTR Price at posting: $3.00 Sentiment: Buy Disclosure: Held
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