Hey team GLN,
Can I ask for some (informed) views - I see a LOT of negativity on this forum about the possibility of the Glencore deal falling apart on DD and I want to dig a bit more into why this is the case.
In my (admittedly limited) experience this does not accord with the way entities like Glencore typically behave. Entity's like Glencore dont enter guaranteed financing facilities on a whim. There will be individuals within Glencore with incentives highly aligned with getting this deal over the line. Glencore will only mke money off this if stage 1 gets to production and they are not going to walk away, unless in DD they find something really materially misstated that they believe will truly prevent stage 1 from delivering their product. In which case we are all proper f*cked and nothing to do with Glencore.
Sure the Li price has been volatile. This will not change Glencores position. Trading houses make money from volatility, not stable markets, and buying a low cost source of production is a winning strategy.
There is a very high risk of Glencore using DD and market weakness as a chip to improve their position.
Can anyone shed light on why I may be underestimating the risk of DD failing?
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