Yeah @WhatsTheTip I put in a very detailed question for the...

Yeah @WhatsTheTip I put in a very detailed question for the webinar on the whole JV accounting and the sources and uses of cash to try and get a better feeling for "timing" and "classification" of spend. They didn't read out the question but Amanda tried to answer it as follows (from the transcript). Keep in mind, this is a very different structure to what we have with SYQ/NAL where PLL owns 25% of the incorporated JV (Sayona Quebec). With the Ewoyaa project, PLL "Earns-In" certain project level ownership through funding certain $$$. This piece is from the prospectus



So my question was to try and find out how that cash get "called", where its kept and how its spent.


which she answered as follows:



So that clarified where the cash was for me .... No incorporated JV like SYQ ... cash is all in Atlantic and it is funding driven ... Atlantic gets billed ... Cash call on Piedmont ... and after certain spend the "earn-in" % grows.

From there I was interested in HOW expenditure gets classified ... in theory Atlantic does more than just Ewoyaa ... so how does this work ... for example the disputed spend at present as disclosed by Atlantic



OK, so that answered part of my question ... there is some definition to what is "development" or "construction" Capex and surely the GSE listing is not included ... but it would be eventually as the end game is a 50-50 JV ... but that's later rather than sooner.

What Amanda is shall I say "sidestepping" is the MIIF funding and how that sits in the order of things. She's fond of saying PLL funds the 1st $70M ... well yes that's true when it's only 2 partners. With a 3rd party being added, their "buy-in" to earn 6% contributing interest and the $11M for funding development, exploration and studies expenditure sits where exactly. So I'm still not sure about the that $70M and I'll have to hound Amanda with being more specific. For sure PLL has to contribute $70M before A11 funds a penny but MIIF should be contributing its share towards construction.