Personally I'd rather they just looked at an offtake with a new...

Personally I'd rather they just looked at an offtake with a new outfit in Europe that captured even more of the hydroxide price than the current GF one does - and left the capex and technical difficulty of processing to those already good at it. That would increase profitability, accelerate dividends, and reduce risk IMO. And that sounds like a good combination to me.

Where we'd be better off is with stage 3 , seeing how PLS go with their intermediary processing idea, they plan on licensing if it succeeds. That would cut our transport costs down substantially - and could then be utilised back into stage 1/2 product if Ganfeng can use it.