Ann: Pilbara Minerals Signs Offtake Agreement with Yahua, page-56

Corporation/miners are often in the dubious habit of buying other companies, which complement their size, variation of commodity and income stream at the very top of the market - dumb bastards! (use BHP as but one classic example). Conversely, very few companies have the foresight and skill to perform this dynamic when the subject commodity/stock is on its knees. Now I'm not fiscally smart enough to know whether PLS has the financial/loan capacity to make a play for the likes of CXO right now, or for the likes of LTR should they strike a most unfortunate glitch with their ramp-up , nor if they are a viable buy, but a triad conglomeration would certainly be worth considering, given the lithium sector is under siege and the price is circa at parity with cost of production for the majority of operating miners. So, if ever there was a time to execute a TO it would be know - provided it's economically advantageous as to the lithium market recovers.
It is often said in the pugilistic arts that one must not follow where the strike is going, but instead anticipate where the blow will land .