KoBold Makes Offer for Congo Lithium as Country Courts US, page-2303

So you're suggesting a straight buyout would result in a premium to any "partnership"?

I'm not sure that is entirely true as transactions are valued at NPV. Sure it can be a bit rubbery but its better than nothing and takes into account future upside and the cost to achieve it under various assumptions. To be honest, I think a straight buyout would be a relief to many shareholders. I doubt many would prefer to go mining and navigate the many proverbial minefields dealing in the DRC.

As it stands, AVZ will be reduced to 44.5% ownership and that's before they cover any development costs or payback the CATL loan for any development costs. Its a very, very long road ahead I'm afraid.