Just a perspective that has not appeared on this...

Just a perspective that has not appeared on this thread....Assuming the
GAM deal sticks I would think that the BOA pricing formula would have
to be split into selling to two parties. The first party would of course be
General Lithium ... The second party would be the entity set up to
accommodate the GL/PLS Malaysia consortium. So in fact there would
be two separate transactions, the first being the spondumene sold to
General Lithium and the second the spondumene to the GL/PLS entity.
The sale to the second party would not happen for some time and for
the purpose of the GAM requirement should be ignored for now.

I would also imagine that if a deal is to be done in the first case then
the current formula could be applied now with an adjustment made
when the sale actually takes place to allow for any variation over time
of the price. It would also be feasible to think that the 45 days would
start from when the first calculation of the price was presented to GAM.

B&Y