Ann: Dylan Roberts appointed Company Secretary & General Counsel, page-54

A merger with PLL would be expose SYA shareholders to yet more dilution as PLL have a very significant capital expenditure program ahead of them excluding commitments to SYA. I fail to see how SYA can/would benefit we have enough land and lithium to do us for 100 years. PLL are there for cheap US money and they haven't been able to get off the grounds themselves. We don't need another company writing IOU's to SYA- we need expertise in lithium chemicals. The o my option is a chemical producer- I don't think sit going o be arcadium as they are actively looking to divest from some of their Canadian projects due to a shortage of funding. RIO who has sat on the line wisely and POSco would be my pick as the Koreans need North American projects to gain access to US Markets. We're ideal for this.

You can argue that joint listing on US market might make is easier to access cheaper finance and liquidity, which is a valid argument but not at the expense of giving up 75% ownership and exposure to very significant capital expenditure programs. We can just about finance our own never mind anyone else's.