It's not as great as it sounds. Although the life of mine is 20...

It's not as great as it sounds. Although the life of mine is 20 years, the aquisition of NAL came with a condition that they establish an operational downstream refinery by 2026, in line with Quebec's whole supply chain strategy. When that refinery is up and running, most of NAL's spod will be fed through the refinery up to it's capacity, and Piedmont will only get the dregs of whatever is left over. So yes, that deal of half of the spod for $900/t for LOM is sort of true, but not the whole truth. Of course, Piedmont play down that aspect and are trying to delay the inevitable by using their seat in the JV to insist on carbonate vs hydroxide studies, but in the end the refinery is mandated by Quebec and cannot be avoided.