This is what I meant by "PLL will make good money via its OTA...

This is what I meant by "PLL will make good money via its OTA (especially TSLA which is based on Hydroxide)"

Per Sigma Lithium recent auction
"The final price net of VAT is equivalent to 8.75% of the LME Lithium Hydroxide CIF/Fastmarkets CJK price."
that price was US$1,333/t (inc VAT).
https://sigmalithiumresources.com/sigma-lithium-secures-premium-final-price-of-us-1333-t-for-22000-t-of-quintuple-zero-lithium-with-85-pre-payment-for-delivery-in-2-weeks/

So, it gets down to what exactly is the formula used by PLL/TSLA but the intent is clear - TSLA/PLL price is disconnected from CIF SC6 price - a good thing. Before grade adjustments its still a buy at US$900 and sell at US$1,333 (less tax adjustments).