Look at the history of Covalent Lithium, and that includes its tendering history that you can see at the ICN gateway site. Firstly, Covalent called for detailed registrations of interest. Then the issue of Kidman Resources selling its interest to Wesfarmers arose, and nothing could happen until that was settled, and Wesfarmers board approved the spend. By then Covalent had already formed a good idea of who was likely to supply what at what prices and subject to what contractual conditions, so it again called for ROIs recently, with an astoundingly short open period (a month), and then it executed contracts within weeks.
I think the JV with Alcoa would move through quickly..
FYI Price at posting:
78.0¢ Sentiment: Hold Disclosure: Held
