Yes there was a huge benifit for PLS having completed their...

Yes there was a huge benifit for PLS having completed their original ramp up just at the time Spodumene prices went parabolic, it gave them a war chest of over $2b at one point to give them confidence to expand. Thems the breaks, you can't all be that fortunate with timing.

Much as it doesn't go down well here I still believe a merger with PLL makes sense, although its unlikely to happen in the current market if at all.
A combined entity with 100% ownership of NAL , 60% of Moblan plus PLL's projects and OTA's gives plenty of scope for rationalisation and priorities. Its the way many companies grow. Its well beyond worrying about whether one might benefit more than the other, any new entity combines everything.
There are numerous examples within the Lithium sector alone. Its also much more attractive to lenders or potential partners.

NAL was really about getting a foot in the door in NA and generating some revenue, not conquering the Lithium World overnight although when Spod prices were almost $US8000t it felt possible briefly.

Cheers Whisky