ASX Today, page-24605

Hi @vmp

You've made a few references in your posts about LTR receiving spot pricing, and your footnote on posts saying
"LTR to achieve an outcome that is at least as favourable as the spot spodumene price"

As you know I'm only a recent investor buying my 1st shares last June, so will have missed some presentations etc which longer term holders will be familiar with.

In any case the only reference I can find re pricing is in the asx offtake announcements, and all 3 say...
" ...determined by a formula-based mechanism linked tomarket prices for Lithium Hydroxide Monohydrate" and "....determined by market prices at the time of each shipment"

Can you point me in the right direction where Tony has clarified whether these "market prices" are spot or contract.
As you know there is a very big difference in spot prices as per the BMX auctions, or the quoted Fastmarkets or Benchmark pricing and the prices the convertors sell their Hydroxide to end users under contract etc.

I notice Core's offtakes are based on "pricing referenced to market price for spodumene concentrate", Leo uses a similar formula based on Hydroxide/Carbonate market pricing, though updated quarterly rather than for each shipment.

If as you say Liontown does receive a spot price, we're looking at possibly up to $2000/t advantage over it's peers which would demand a much higher valuation compared to the peers.

I'd be very interested in reading or listening to what Tony has to say re the prices we'll receive, it would certainly make me reconsider the weighting of the Lithium stocks I have in my portfolio.