For me I would prefer that this is kept as a last resort as I...

For me I would prefer that this is kept as a last resort as I would get higher overall ownership from a 30% sell down of SDV. Note that this assumes lithium carbonate equivalents of:
MC 20kT/a
SDV 25kT/a
JB 20-25kT/a
A 30% sell down of SDV is only 7.5 kT/a (10%-12%) difference as opposed to an outright 25% cut in share value.

No doubt SDV will outlast MC so at some stage would then be looking to reassess options but until then, I would say the best option is to keep CRs minimum.

In consideration I would support a higher debt facility instead. I'm guessing that the preferences are a debt facility with a combination of prepayments and a sale down of some description will be strongly considered first. I would personally prefer leveraging MC income to increase the debt short term to get things going but that's just my opinion.

I am looking forward to seeing the researchers revise their targets again.

GLTA