I think it's done with the exploration. They had to spend the funds in Canada to meet their flow through obligations. That's all done now. IMO this is the cheapest Li play out there for what they have lined up to date between the deposit, offtake and funding sources (all of which are in the market). I dont see how you can sign a C$100m MOU with the Canadian Gov and still be capped here. It's baffling, but a great opportunity.
Ann: Lithium Conversion Facility and PFS Update, page-7
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