I don't think they would have to ' Jointly ' agree for a re-start of the NAL Carbonate ' Chemicals Plant ' as for starters Piedmont is only 25% stakeholder , and so if the Majority stakeholder being Sayona and I.Q decided that the Lithium Carbonate re-start was a ' Goer ' - With our without Piedmont , the Hierarchical FIRST paragraph order of where the spodumene concentrate went to would be NAL Carbonate ....THEN Piedmont.
And it was what was talked about over the weekend in that ' 3 way ' conference with Amyot ( from Resources Quebec ) in that how could Piedmont NOT agree to something it is bound to fulfill in accordance with the NAL purchase agreement and Quebec.
What I do find interesting though in the below paragraph is that when was it actually advised that the 60 tpa or 50% was ONLY for Authier and I guess Tansim. As I never saw this differentiation nor did I vote on it.
Makes sense though right ? because a successful NAL bid could not have been known back in Jan 2020 ( like i had been saying ). So the whole off-take had been materially changed once the NAL mine and plant had been acquired - and yet this was never advised to shareholders nor was it agreed upon at that March 2020 shareholders meeting. And as far as I can see is that the whole NAL re-start has ONLY been envoked ' Formally ' ( which I assume also means legally in the commercial sense ) TODAY or as per this ' Official ' ASX announcement.
So shouldn't we be having another ' Shareholder Vote ' as to the appropriateness of such a ' Material ' change of volume of spodumene concentrate when it is obvious we couldn't have known that the NAL bid would have been successful........Nor could we have known that the JORC resource at NAL would increase so significantly by some 19 DD holes for 12,000 metres which were done in 2019 , but NOT known the results of until THE First Quarter in 2022.....
"Following the restart of NAL operations, the offtake agreement with Piedmont entitles it to purchase the greater of 113,000 metric tons per year of spodumene concentrate, or 50% of production from NAL. Prior to the NAL restart, the agreement provided for offtake of 60,000 tonnes or 50% of concentrate produced from ore mined at SYQ’s nearby Authier Lithium Project. "
So show me where shareholders in the notices were advised that immediately after or in the event of a successful bid for NAL , that the off-take agreement would step up to 113,000 tpa or 50% of production.
And on that note , I reckon it might just be time to be launching a query into ASIC as to what shareholders were not given a chance to approve this ' Material Change ' in tonnage being offered up at a previously agreed price for LESS.
(20min delay)