I think you need to redo your calculations.
In my worst bear case with the world recovering from global recession in 2027...
$15 with 20c div
$3,500 USD SC6 P1000
POSCO JV at 250,000 RMB Hydroxide
Not even factoring Calix JV as that will be pocket change in totality of above.
Ann: Dividend/Distribution - PLS, page-183
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