Oh boy, this will set the cat amongst the pigeons (if our...

Oh boy, this will set the cat amongst the pigeons (if our emotional friends bother listening to this piece).

At 49:13 KP reiterates that the..."offtake agreement is life of mine. What the offtake agreement fundamentally says is that the material underlying our agreement would go to a jointly owned chemical plant, if there is one."

He then clarifies what that OTA LOM actually means and how it will be treated if it's directed to a jointly owned chem plant:

"So instead of us taking our material and selling it to our current customers, you know, we would let those customer relationships or contracts kind of run their course. But beyond that, rather than renewing those relationships with third-party customers, we would sell the material into the jointly-owned chemical plant. But the offtake agreement itself would remain in place. So that's, that's a life of mine offtake. I think there's, you know, there's a general, you know, a broad misunderstanding of how that works kind of in the market. Okay. But yeah, fundamentally a decision to do carbonate, you know, is a unanimous decision between yourself and Sayona to go ahead with it and you would make your own calculation on do the economics, you know, make sense for Piedmont."

That is going to do some heads in big time, not only us selling our SC into a chem plant (if one gets up), plus the super majority requirement for such decisions.

Wonder how your 'mate' across the road will handle that in his 'downstream is the only way to go because that's where the margins are argument'??

This is better than gold.