Ann: Galan Signs Pivotal Commercial Agreement with Catamarca Govt, page-180

Agree to some extent. From what I understand, every different type of feedstock for a carbonation plant requires different processes, so it may not be that simple to just sell the stage 1 offtake to anyone, anywhere.
Tbh it seems disingenuous to sign the stage 1 o/t prior to sorting stage 1 debt. The cart doesn’t move without the horse.

It would have been good to tie the stage 1 o/t to some debt for stage 1 as we now are somewhat hamstrung.
Even worse, gc have the right to match any stage 2 o/t offers, which potentially excludes stage 2 financiers who have an interest in stage 2 o/t. Just speculating (you know befknware risk like a cannibals cook pot incoming) but one possible way to force gc out of stage 2, or to commit the $$, would be to sign a stage2 o/t combined with stage 1 and 2 debt. That matching option could then force gcs hand re stage 2 or even stage 1. But who knows what the nuances are of the contracts that have been signed?
I think gc are just a monster company, tight af, that move at glacier speed.