It seems like all of NAL (Sayona Quebec) sales of 23,942 tonnes...

It seems like all of NAL (Sayona Quebec) sales of 23,942 tonnes of 5.5% spod should be to PLL.

Average realised price for SYQ was A$946 (US$624) which is what PLL is buying at on their offtake. PLL probably got around US$900 when selling to Tesla and LG Chem as prices only fell more sharply in January after the quarter ended. So the offtake portion is still cash positive for PLL to the tune of about $6 million.However given the unit operating cost of NAL is A$1397 (US$922), the underlying NAL operation is loss making. The cash loss this quarter is around A$25m.PLL as a JV partner has to contribute it's 25% share to the JV if cash balances are running short at the JV level. So it would need to put in abot $6m. So overall NAL (offtake + JV stake) is breakeven for PLL.