Sorry Cat but that is far from accurate. Without going into too...

Sorry Cat but that is far from accurate. Without going into too much detail (after all it is a SYA forum)

1. The BIL DoE (matching) grant that was awarded to PLL (~US$141.7M)
2. Understand that PLL applied for a DoE ATVM loan for TLP BEFORE the grant was awarded
3. Now you get into the weeds a bit ... because while the grant is essentially "free money" for the equity side of the balance sheet, it is not given without strings attached ...covenants if you like ... a key among them is "seniority" in the capital stack which stymies commercial lending. And also DoE changed rules whereby you could not have both on the same project. Given the size of the TLP (and CLP in future) US$142M is nowhere near enough money.
4. It was PLL's decision to move away from DoE Grant and "pivot" (their words) to AVTM loan - US Govt DID NOT PULL IT FROM THEM.

I hope that helps.


And @arfbarf you're asking for proof (how come I always have to prove my statements). The proof is one word PRICE. If you need a pretty chart this is a good one

Now what did I say
"So while transition away from ICE is unstoppable, lithium demand has "slowed" as the market profile has changed - but it is still rapidly growing (at 20%+ p.a.)."
That means absolute numbers are still getting bigger but rate of change has slowed.

If a sequence is 1,2,4,8, you might expect 16 next as its 100% growth period over period
If a sequence is 1,2,4,8,12 then growth was 100% until the last period, where it is "just" 50% but still growing (12 units as opposed to 8)

But what if that is now 1,2,4,8,12, and that last number 12 was actually 8 units of say EV and 4 units of PHEV what now ... no growth for EVs and growth comes from PHEV ... and if 4 PHEVs of 15Kwh equals 1EV of 60Kwh ... now what ... because in equivalent units the number is 9 not 12

If supply was targetted for 16 but achieved "only" 12 ... what have you got.

I believe we do actually have oversupply of lithium units ... intentionally underwritten by CCP who can absorb losses on cost of production that Western for profit companies can not ... and thereby have a hugely negative effect upon the structure of western economies. It is plain an simple economic warfare.