Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-97

the bigger problem with the offtake is not 0 down , that can be standard , but rather the unquantified discount and pricing structure

the ANN states a pricing formula method , from my research I cannot see the BOD has announced to the market the formula that will be used , and considering recent developments regarding disclosure and informing the market , I consider this a massive red flag



However full disclosure to the financing partners regarding the formula would be required, my concern here is if the pricing formula was competitive , financiers would be lining up after all its LG Energy a safe offtake partner as many holders seem to promote

So what's the issue ? Top shelf materials , Top shelf Offtake Partner , what shelf is the pricing discount ? What interest rate will finance be ? Personally I would prefer a cashed up invested partner over finance during this part of the inflationary cycle.

In my experience Its currently not in a position to accurately value this deal and this is the down side to an offtake of this type , guaranteed 100 % offtakes always come with discounts especially to the largest safest buyers and I believe the dot points you made about what LGE have done only serve to agree with my stance

dyor not professional advise