Hi GT3,Great post as usual mate, and you know I am a strong...

Hi GT3,Great post as usual mate, and you know I am a strong advocate of Sayona and yourself.
As a longtime investor, I too shared your sentiments and heading into the AGM, I had a few dying questions I needed answered.
1. What happened to Brett?
2. Are we going downstream/ PLL offtake?
3. What happened to our offtakes?
4. My confidence with the boards?

I honestly was quite happy with the outcome of AGM, especially the knowledge/experience James demonstrated on the day. The rest were quite mediocre.
I was quite taken back by the 113k first right to PLL and remaining to us. My previous interpretation was anything over 113k 50/50. Anyway that was made clear by JB. Nevertheless, I strongly believe we can potentially produce between 160-190k per annum, so it’s not much of a big issue.

Now let’s tackle the question regarding why we have not secured with any offtake partners.I believe this is where you have got it wrong, and JB has demonstrated an understanding of how the industry work, especially in times like this.

He mentioned the following, “we are fully supportive of going downstream and we want to seek for long term supply chain partner(s). The trading house is only a temporary solution”

Our spod need pre accreditation by using partners with track records/technology through converters in North Asia. He further go on to add that spod prices are linked directly to hydroxide.
That is 100% correct.

Fixed prices muti-years supply agreement are normally linked to spot indices for carbonate or hydroxide.
So the question is how should spodumene be priced in this environment?.
From my understanding, it’s more harder to convert spodumene to hydroxide than carbonate from hard rock or brine.There are financial benefits when selling hydroxide over carbonate, unfortunately the last 12 months has seen the price in favor of carbonate. (This is one of the main reason I invested in Sayona at the very start, “hydroxide”, hence I have done a lot of research in the earlier days)
But the biggest advantage is that hydroxide brings is it’s more stringent and complex in its qualification process, therefore makes it more desirable, stable and better final output than Carbonate, for highendOEMs supply chain, .
JB/BL want the secured our future with the big leagues players

I believe hydroxide is considered as a “specialty chemical” which holds key significance value as the market mature, especially for the long-range with better power density and longer life cycle.

Nevertheless carbonate is easier and cheaper to produce.You are correct in saying that we can sell our spod to any downstream producers/refiners, hence some of the non-producers like Vulcan and pll have pre-sold even before seeing the product.

This doesn’t not suggest we don’t go carbonate downstream, which I think a lot of people’s are confused about.

JB simply wants to secure a “better price” longer term, with a Bigger High-end OEMs, hence the pre-accreditation.
If you don’t have the experience, you will not know this.