Since November last year when POSCO commissioned it’s lithium...

Since November last year when POSCO commissioned it’s lithium hydroxide plant in Gwangyang, joint venture partner PLS has been shipping small loads over there from Port Hedland.

This period has been when the plant has been ramping.

The latest shipment from Port Hedland departed a few days ago on bulk carrier BRONZE LADY.

This shipment is the first full load to Gangyang, suggesting that the refinery has achieved steady state.

Although PLS has an OTA to supply spod to the plant, it would not surprise me if SYAQ may have sent a quantity of spod from NAL for qualification in the new refinery.

Recently it was reported by SYA that spod from NAL had been sent to at least five different refineries in Northern Asia.

It is quite possible that NAL spod has found it’s way there as well as to Pohang where EcoPro has a refinery.

Getting qualified at a number of refineries would pave the way for OTAs in the future.

SYAQ is uniquely positioned to supply North American spodumene concentrate to two chemical producers that are not Chinese.

While sending it to South Korea is not ideal, forming a relationship with them maybe a prelude for when they build plants in North America, (hopefully Quebec).

Another chemical company to consider would be LGES, another South Korean company with North American plans. I am not aware if they have a downstream refinery operating anywhere but they have an OTA with PLL, so it can’t be too far off.

It is good that @su8084 has joined us, I look forward to what he can bring to our discussions.

I look forward to the day when people on this forum are discussing money making operations and not the imminent demise of either of the joint venture partners.