If its an optional purchase. It isnt really an OTA.
The whole purpose of OTA is to ensure a buyer for the seller.
The OTA also doesnt state that they are a potential buyer or have a term (may not necessarily purchase)Summary of Offtake Agreement Terms
Supply Agreement
Buyer Piedmont Lithium Carolinas, Inc., a wholly-owned subsidiary of Piedmont, or an affiliated company Seller Sayona Quebec Inc. Product Spodumene concentrate containing 6.0% Li2O grade (dry basis) Quantity 113,000 dry metric tons (“dmt”) per year or 50% of production, whichever is greater Term Life-of-mine of the North American Lithium and Authier Projects Price Market pricing (based on an average price for CIF China Price (US$) for 6.0% SC6 dry basis) with a minimum price of US$500/t and a maximum price of US$900/t on a DAP North Carolina basis Conditions If Sayona and Piedmont agree to jointly develop and operate a lithium chemical plant, including a restart of the lithium carbonate plant at North American Lithium or another lithium chemical plant at a different location, then the partners agree that the order of priority for production volume of spodumene concentrate from North American Lithium will be:
- Jointly-owned lithium chemical plant
- Piedmont volume under the offtake agreement
- Third parties
If PLL had the option not to acquire that should be listed under the OTA conditions.
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