Ann: Pilot Plant to Facilitate Finance and Offtake Alternatives, page-36

It's not a race to get to production first. You don't win a prize and get to take home the other guys' operations if you're there first.

They're trying to build a plant that will sit comfortably at the bottom end of the cost-curve, which means the company makes money at current prices (which are high everywhere except China), or at lower prices. If you're at the bottom of the cost curve a lot of your competitors have to be squeezed out before you're worried.

If you seriously can't appreciate the complexities involved here, and how sensible a move this is, or if you're that worried about the lithium market collapsing in the next couple of years, I honestly don't know why you're still holding. It isn't a fly-by-night operation.

It's also not a conventional operation. They have to think sh!t through before they do it, because there isn't anyone else to copy from.