Offtake pricing will be determined via a formula linked to the...

Offtake pricing will be determined via a formula linked to the prevailing price of downstream lithium products

A number of offtake protection mechanisms including in the deal:
— a floor price during the term of the Ganfeng Debt,
— an agreement from Ganfeng to take Goulamina spodumene concentrate ahead of any other third-party (non
Ganfeng project) concentrates,
— a letter of credit in place for the value of a shipment, and
— the right to terminate and sell Goulamina product to third parties in the event of non-performance

Simon and former FFX directors have talked up the offtake pricing formula as very favourable and much better than other deals in the lithium sector (?) It was stated at the time of the deal with Gangfeng that FFX took a lower $ upfront deal in return for superior offtake pricing but we won't know until the $ start flowing...