Ann: Investor Presentation, page-29

E66: Piedmont's Year | The BOSS Keith Phillips - YouTube

Keith Phillips ceo of PLL which is a 25% owner in the SYQ JV has stated in the interview that carbonate will be something NAL does in the future. I doubt it is still being assessed when you make such a statement. One of the big reasons in its favour is having a partially complete Lithium Carbonate plant at site. Why would you let the opportunity sit there when you have half of something already started.

For those that dont know Howard Klein runs RK Equity Advisors which is a leading proprietary research and capital markets advisory firm focused on the lithium-ion battery materials supply chain. He is an avid fan of PLL but would not be surprised if he has some skin in SYA. There advice is very sound and they have been on point with a number of things in the past including asking where is the demand after 2017/2018 lithium bust and they knew it was coming and that they knew it was going to be huge.