I see it a different way.
FYI hold all the cards
FYI owns the kaolin deposit, shovel ready, JORC reserve, all approvals in place
FYI owns the pilot plant which had produced 5N before the MOU
FYI has the land in battery alley
FYI had instigated negotiations, product testing etc with multinational potential offtake partners
Alcoa wanted a quick way into the HPA industry.
I agree Alcoa will look after it's shareholders, so will FYI, from all I've heard the JV will be mutually beneficial.
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