ASX Today, page-34509

So tomorrow starts the 5day volume weighted average period that will determine the ultimate price of the SPP issue shares. The share price would have to really spike from here to see the issue be at $1.80. As it turns out I'm glad I kept some of my powder dry for the SPP subscription which will likely be at a discount to next 5days trading.

But more importantly, I forgot to mention the other day about the pricing formula of our product. Even though LTR does not receive any tangible impact from whatever current Spodumene pricing prevails right now, we do have an ace up our sleeve, as the contract pricing we negotiated with off take partners Tesla, LG and Ford does not directly reference the Spod price. Rather it references, via a formula, the hydroxide price. I do not have the figures in front of me, but I understand that Lithium Hydroxide pricing has generally been far less volatile than spot Spodumene priced in China. So even if current weak prices of Spod prevailed, the value to be realised by LTR in a market like this will still be incredibly profitable. I think it's quite relevant to the valuation outlook for LTR when we reach production.

regards
DF