I appreciate your perspective, but i don't agree with all that you are saying.
I believe the discussions are real, the economics stack up, the price used in the BFS are not going to be the price they sell for and the company will make more than the $1.4B that's documented.
What I am saying is the company needs to take leadership now that the policy has been announced, and unless there's a compelling reason why they can't start with phase 1, then they should come out as soon as possible and tell the market "the plan hasn't changed from what you were told / sold, and we will commence work excavating the ponds as soon as funding is secured."
Management need to be leaders and provide certainty with relation to the details of the plan, and reestablish credibility.
If the lithium price was 50% higher the share price would be higher as a short term valuation, but the long term value inherent in the project is still there for the likes of Mitsui who need to secure supply and anyone else they've been in discussion with.
Anyone saying Mitsui aren't interested or will walk away from this project are being disingenuous, or willfully ignorant.
If anything, the project just got more speaking because the Japanese government recently announced they will subsidise 50% of the cost for key lithium projects.
Given this announcement I believe there are at least 2 suitors to acquire the whole project, SQM - who I have my reasoning for in another post, and now Mitsui who will be backed by the Japanese government.
It's an enviable position to be in, management now need to get people to show their cards, and the best way to do that is to have direction and intent.
