Ann: Sale of Troilus Gold Corp Shares, page-35

Very good points Kev and I would lime to look further into this.

I guess in short there is an explantion as to WHY the PLL offtake is different.

PLL is a wholesaler. They buy spod and sell it. And with a rather unstable past lithium price chart to use as guidance it would only seem fit that there would be mechanics built into it to protect the company from losses. Keef is not silly. He's unliked but he would be well equipped to strike this kind of arrangement.

Tesla and LG Chem are END USERS. They have 10 plus years of easy to read history to enable them to make a steady forecast of what they require and enter into an agreement.
And if they miss, or there is a rise and fall in demand then they have 3 further steps where they can mitigate the damage in oversupply. They have the funds to store batteries on shelves for a period of time. Spod can sit by the refinery for a period of time. Cars can sit in the lot for a small amount of time. They are not committed to moving the product immediately to ensure adequate cash flow.

Only my opinion but these are the things i would consider when determining why the PLL offtake is structured differently.

There is also the case where the PLL offtake was most likely struck up as a prerequisite to get the NAL deal over the line meaning it had to be there case where PLL removed as much liability as possible.