There are several things to like about the $106 million investment that Ganfeng has just made in LLL.
1) Tops up the LLL cash and gives it all the cash it needs to complete Gaulamina mine
2) Cements the JV between LLL and Ganfeng
3) Includes an announcement to increase stage 2 production to 1 million tonnes SPOD6
4) Provides information about potential downstream LiOH avenues that will be pursued
5) Fairly priced amid recent highs for LLL SP with no warrants or other sweeteners
6) Ganfeng is really the best Li producer in China and will provide extensive expertise and business experience
7) Ganfeng will never sell its stake, so those shares are gone and will never end up in the float
8) Downstream activities in the EU in particular will discourage Ganfeng from taking over LLL in the short to medium term
9) Ganfeng and by inference China provide a counter balance for activities in Mali
10) Increased production provides more optionality for LLL share of unallocated SPOD6
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