I can see how you could interpret it that way ... I really do...

I can see how you could interpret it that way ... I really do think it is referring to the 15Kt that did not go through last year and so it becomes "eligible" for 2024 ... but I'll ask. This goes back to what I was saying much earlier in that both JV partners having to manage shipments and its not exact timing anf loading and so there could be shortfalls and surpluses that get "grossed up/down" as the year ticks over.

I don't think there is any doubt they are "bound" to take the agreed offtake or "pay the penalty". You don't get the luxury of "reserving" a certain amount of production and then backing out .... these are not contingent volumes. There is generally some wriggle room for volume over time but it pretty clear (to me anyway) what the terms are.



Ah @Y4ukikmycow you should know better. Piedmont and Sayona BOTH AGREED to a business transaction. I've heard that in business you don't get what you deserve, you get what you negotiate. Clearly PLL had a "price" for the capital they put into the JV and for what they wanted out of the JV ... Sayona did not have to accept PLL's terms (could have told 'em to 'eff off) ... but I recall when I met with Amyot Choquette that SYA on its own would not win the NAL bid. So both parties must have gotten what they wanted for the JV to eventuate. I don't know what you want me to say .... SYA was outsmarted by better businessmen from PLL ... (btw if it wasn't PLL it would have been someone else).