That makes a lot of sense. If the BOA purports to fix a price...

That makes a lot of sense.

If the BOA purports to fix a price with respect to the MOU, as MIN allege, and the MOU really has nothing to do with the supply of spod, I guess that will potentially be part of the legal basis for which this is being challenged.

PLS could have circumvented this if they included the downstream processing plan terms within the BOA, though I'm not sure if this would have been actually possible or contemplated at the time.

If the next BOA excludes participation in the plant, one would think the pricing mechanism isn't necessarily tied to the opex/capex or whatever relevant costs of the plant.