Ann: HMW Phase 1 Funding & Offtake Secured with US Based Partner, page-103

You've made some really good comments on this thread - thanks.

From the look of it, Authium must think running the HMW brines through their nano filtration plant is going to be a piece of piss (which is understandable given their success in the significantly harder environment of Rincon). I say this because they are taking on all the risk here. They pay for the plant, commission it, and operate it. They provide a PP facility, Cameron Stanton stumps up a cool 2 mill, and if things go wrong, their only fall back is a claim over our Li inventory.

On the other hand, Galan can survive hibernation, and get a fast and incredibly cheap path to production without risking our assets in the deal.

Furthermore, the likelihood of a RIO takeover increase dramatically.

We are now partners with the SAME team that orchestrated the $US825M RIO-Rincon deal. RIO settle on Arcadium and this partnership arrives months later? Interesting.

Add to that Galan completely dismissing a sub optimal TO, JP and Terry stump up another 720k (they did not participate in the last SPP) we somehow are left with our assets unencumbered, and have a partner massively amicable to a TO.

Oh, and RIO have just greenlighted both the Fenix and Sal Da Vida expansions.

Looks like something is cooking (or maybe simmering for the time being). I'm back buying again and will be in the SPP too.

Good luck.