The amount of cash needed to build out Authier and the time it takes to do so will be much longer if they are unable to secure NAL. NAL already has a functioning plant and other assets that we could start using if we are successful. As it stands now without NAL Authier would not start producing til mid 2022 or later. If we are successful with NAL this could be mid 2021 and we would likely have off-take agreements as a part of the deal.
It will be very difficult to do much in the way of exploring WA assets without a cash infusion of some sort.
Ann: Sayona Momentum Builds as Bidding Process Extended for NAL, page-35
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