General Discussion Topics, page-127168

Whisky, why would we want to seriously crimp the potential multiple SP appreciation from the developing SYA projects that a merger with PLL would most likely stifle? I dont believe the market sees a tripling or more in the current PLL's business golf bag for SP appreciation. At least in the timeframe we have on our own. Comparing potential benefits of partnering with a big boy on completing the current partially completed carbonate plate and the elimination of the PLL offtake pricing stipulations with its completion, to me more than offsets any potential PLL can bring to the table. PLL's focus on hydroxide is not really in step with where the market direction seems to be moving. Cashwise the build out of the partially completed Carb Plant is a no brainer and if a major partner can bring their pocketbook to the table to help get to the finish line, its a win win for SYA much to the detriment of PLL. I personally get the impression that PLL has a little too much say so in our company, minority partner of not. they are benefitting hugely from the offtake and matches their ownership percentage. i feel they may be applying a little more pressure than they are entitled to but again just my opinion. but coming from a Company that entered into a number of joint ventures over my career, we directed where we were the majority partner but understood in those as a minority holder the benefits you recd mostly were contract related not in directing overall operational direction. in our case, PLL is receiving contractually in a big way. but the upcoming qrtrs should help clarify. Spodumene pricing has to give. jmho glta