The current offtake agreements are letters of intent aka non-binding and the company has stated they are looking to progress these to binding offtake agreements in the future.
As you can respect the article goes on to say they are looking for the best price from the customers with the best credit ratings etc in other words - we are not rushing as we have plenty to choose from and may aswell select quality partners.
I have looked through the companies they have signed LoI's with in the past and they are large producers that, as the company has mentioned, require long-life offtake agreement as changing the kiln flowsheet to suite the product is a bit of a headache.
Nothing like re-tuning a hydroxide facility from spodumene but never the less an annoying process that need not be repeated (hence long term contracts)
I would not be surprised if the pool of contacts are reduced to 1-2 core Chinese based majors and perhaps a European / Middle Eastern for diversification.
I have posted in the past why I think the offtake process will help determine pricing that will ultimately be included in the DFS but they seem pretty gun-ho on publicly stating $700pt so I assume pricing is not really the issue here.
Anything above that in the porcelain / ceramics market would be a nice surprise.
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