PLS 1.32% $3.06 pilbara minerals limited

Ann: Pilbara Minerals Finalises Agreements for POSCO DSJV, page-47

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    -Arms length Offtake for ~20 years
    - Economic interest in downstream margins
    - Capital funding - 79M convertible bond at 150 bps over RBA rate + bullet payment at the end of term
    - Working capital funding
    - upto 65% Debt financing from Korean banks leveraging POSCOs balance sheet and relationships
    - Option to exit if overrun or increase stake for upto 18 months after ramp up.

    These T&Cs are heavily in favor of PLS. I am so happy with this announcement and couldn't be more proud of my investment in PLS.
 
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