Ann: Letter to Shareholders, page-30

https://www.nasdaq.com/market-activity/insiders/armstrong-jeffrey-t-1161682

Chairman on market buying!!
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If PLL and Sayona were to produce chemicals from NAL, naturally the output would be hydroxide/carbonate and not spondumene.

The confusion is that GT did not specifically clarify that PLL would have right to 50% of the chemicals produced but did say 'if piedmont do not make their money from spodumene they will make their money from the transformation'

It's quite telling that Sayona totally ignored this clarification at their AGM and to date have ignored all emails asking for clarification.

ASX announcements to date clearly state Life of Mine from both SYA and PLL and not an option of exit of either parties under any circumstances.

Public companies need to be very careful what they advertise. GT was asked a question on a small local Q/A which he gave a possible scenario without fully following through on what that decision would mean for PLL and Sayona.

I'll stick to public announcements and as time progresses if and when both companies reiterate 'Life of mine' we know clearly what that means (again)