Ann: Extension of Voluntary Suspension, page-44

The whole reason Galan staged their development like this and chose to go chloride first was because of the a) water b) time and c) capex required to build a carbonate plant. So to announce an MOU about building a carbonate plant (without any mention - yet - of who will fund it) is quite a curious move.

I wonder if this implies that Galan’s request for an export license was knocked back so now they're firing up the carbonate approach again? Regardless, it all depends on who will fund it. Considering the difficulty they’ve had getting phase 1 capex put away, a carbonate plant is a whole different ball game. I struggle to think a regional Argentine local government will be able to stump up much cash given the state of the country. Monday will reveal all…

At least it doesn’t appear to be anything negative above current plans for phase 1 and 2.