General Discussion Topics, page-141212

In such a dynamic industry as critical minerals, it is dangerous to be locked into a mindset.

When factors change, (vis a vis long term lithium price downturn), the strategy must change as well.

Very true and that applies to investors as much as companies. The simplist potential solution to the OTA with PLL is to merge the companies and then any decisions around a refinery can be based around 100% ownership by a single entity not divided preferences. As it stands both companies need the current operation running profitably before anything other than survival can be realistically considered IMO.
It beggars belief that as we hover close to C&M that talk of being a refiner ( read debt or serious dilution) is even talked about at the moment.

IMO the best way to look at the NAL JV is as it stands and that is at nameplate or above SYA is a net producer of 84,750 tpa or more of 5.5% spod plus a small cut on another 84,750 tonnes and live with it in the meantime. Its better than having no production with Authier as your only asset . This of course assumes NAL being profitable.

Cheers Whisky