I think everyone keeps forgetting that there were 2 options on...

I think everyone keeps forgetting that there were 2 options on the table.

1. an OTA
2. a CR

The OTA was rejected by the BOD, but lets look at what that might have looked like.

PLL received $75 million up from for 50,000 tpa of spod over a 4 year period, we would have 113,000 (after the first yr) tons which likely could have given us $150 million up front cash.

The Quebec government would have also been adding dollars to bring this deal in, using the recent Nemaska deal as a benchmark this could have added an additional 250 million to the bottom line, but would have likely required the carbonate plant to be expedited. This would have all occurred while the share price was in the low 20's ... there is no way of knowing what the exact details of the OTA would have been or why the BOD rejected it, but in my opinion if it has not been killed the share price would be closer to the 20's than to the sub-10c.

The JV partner would have not been happy with a deal that provided a fast-track to carbonate is my opinion - everyone can do their own sole searching and research on the matter but we did have 2 options. Those who think the BOD saved us by choosing a CR maybe right, but I for one would like to know more about the OTA before I sing high praise about the CR.