finally got a moment to listen to the call. I was impressed....

finally got a moment to listen to the call. I was impressed. It’s worth an hour of your time to take some notes. highlight was a minute from 24.20 about selling to Chinese for the ex china supply, sounds like JVs are on the way as they want to crack North America, Europe and Asia. They mention non-dilutive expansion. Plenty of announcements on the way. Further offtakes for both Vidalia and Balama incoming. Market based pricing (Teslas first lot was probably a sharp deal)
Comments on Chinese’s anode producers expanding operations overseas needing to lock in ex china supply and rework ownership structures and JVs to make themselves eligible to fit FEOC and be IRA compliant, Syrah expecting to make some announcements soon.
Chinese incumbent natural and synthetic supplier told Verner that rationalisation must occur (low prices not sustainable new entrants having low utilisation)A few big Chinese JVs and Balama might need to expand. OEMs need security of supply and the Chinese export controls and legislation in U.S. and EU make Balama critical. Focus is on incumbent suppliers as they can increase volume faster.
Also poured cold water on rival projects over estimating prices and under estimating costs and timeframes. AAM facilities are a lot quicker to start than mines. By 2026 expecting Balama to send 100k exchina
as a side I’m not stoked we are back in the 30s but with the increase in shorts we may invite them to a Chinese or Korean BBQ very soon as positions unwind DYOR