So you now shift the narrative ... first you talk about how a...

So you now shift the narrative ... first you talk about how a lot of things have to go right at Becancour for it to operate only on spodumene concentrate from Whabouchi mine ... and when shown the current plan you tack to the PLANNED EXPANSION (part of the rational that Livent had in its merger with Allkem) of what is POSSIBLE when you have close mine assets that could be processed at an expanded Becancour refinery.

ALTM slowed down their expansion plans, as did ALB. That is prudent in this environment. PLS made a clever acquisition to grab LRS (and effectively slow a new source of supply into the market). But yet the rhetoric here is how downstream is a must - even in this environment - as if your commentary re "They may find it difficult to find a strategic partner willing to pour in cash to finish the project in the current environment" doesn't apply.

SYA is playing a game of survivor against itself. Eyes open.