Corp updated needed SYA/PLL, page-28

Dawg, you were previously looking at off-takes and the potential value that can be realised from their sale.

Did you find out anything interesting from that work that would be useful to PLL shareholders given PLL has one in production source of Spod with short offtakes and two projects at DFS stage that will also supply Piedmont Spodumene. Piedmont is not an end consumer of lithium products so every ton of lithium acquired will be onsold as either Spodumene or if you believe their proposals, in the future Hydroxide. Piedmont has 325kt of confirmed offtakes and has delivered a few ten's of kt against these. Across Jul24 to Dec30 PLL is potentially receiving ~2Mt of spod that is all uncontracted.

113 * 6.5yrs + 183 * 4.5yrs + 242 * 3yrs = 2,284kt of Spod from which to do potential offtakes (Assumes mid 2026 for Atlantic and 2028 for Carolina production)


BTW given your inclination to post on some other projects with "interesting" features, one area you may wish to explore is whether recovery results are calculated using ore with grades close to the deposit average or well above the JORC average (Higher recovery rates are to be expected from higher grade ore because less concentration is required to obtain any specified target grade). Another for DMS only projects is whether the recovery test results provide clarity on whether they are HLS test results (aka scrub the material of fines and put it through a testing process then report the results) or representative project recovery results inclusive of the zero recovery that will occur from crushing fines (<0.5mm) via a DMS only flow sheet.

These issues should be resolved by the time projects get to a DFS but some pre DFS project are looking at DMS only flow sheets and appear to be reporting the results of their HLS test work (after fines have been removed) in a way that makes it seem like they are project recovery rates. This assists to create a perception problem for any project that either invests additional capital into their proposed flow sheet to get recoveries from fines (and middlings). The perception problem created is that there are other projects being developed sitting on fantastic ore that will have high 70% to low 80% DMS only recoveries without this additional investment in back-end flotation or some other mechanism to get recoveries out of fines.