nrc, I think you have framed the question framed in a leading...

nrc, I think you have framed the question framed in a leading way - you don't have a background in law by any chance?

Firstly, a self evident question
"who should be held responsible for the business decision"
followed by a contestable opinion that seeks reinforcement from the answer to the question
"that ends up costing the company and shareholders a loss in revenue and a decrease in the value of their shares"

The answer to the self evident question is clear enough - the management of ORE long ago agreed a JV structure in which TTC have the exclusive agency rights for the product from Olaroz phase 1, (no doubt with some checks and balances on the deals done). If we didn't like the smell of that, we have had ample opportunity to exit profitably since Jan 2010.

As for the second part - the opinion - I think it is unfair to second guess a selling price decision based on subsequent price movements. The pricing in question was no doubt formalised the better part of 12 months ago, and probably discussed and negotiated over many, many months prior to that. When did the price take off? The first signs I noticed of a price spike were in late November 2015. Mr Lithium himself, had very conservative price forecasts this time last year and was quick to denounce the initial price movement in China as not representative of the real market. By January, of course, the China price story was becoming clear (even though ALB, FMC, SQM had little opportunity to partake as they were similarly locked on with agreed pricing)

Do you hold ORE/TTC responsible for making deals to sell product?
Of course - no argument.

Do you hold them responsible for doing a deal at the price prevailing time at the time (no doubt with a "new kid on the block" discount)?
Of course - no argument.

Do you hold them responsible for subsequent movements in the market price that even the self appointed and oft quoted "Mr Lithium" hadn't predicted?
Well you can, but is that fair?

If they continue to make deals at a discount to market price then we might have cause to gripe. On that count, I think we would need to benchmark against ALB, FMC,SQM as the rump non Chinese market