Take it easy mate. The agreement as I understand the wording to...

Take it easy mate. The agreement as I understand the wording to be with Piedmont does not specify that they have FIRST rights to 50% .....or indeed FIRST rights to anything.

So what Sayona does with its spodumene in the end if a suitable ' Agreed ' date for delivery cannot be met and signed within the suggested time frame of between July 2023 and 2024 ...... and considering the agreement with Piedmont is NOT a wholesale ' Marketing ' agreement for Lithium products ie they cannot just take the spodumene and on sell it to another party - I would say Sayona can add value to its spodumene in whatever way and whatever time-frame it so chooses......and sell it to whoever wants it. Because Piedmont does NOT have FIRST rights over it.

In other words , there is no priority agreement here which puts Piedmont above any potential others who step up and put their hand up. PLUS , they have ZERO rights to any Moblan spodumene.

But the agreement as it stands , and because it is for 50% which is a large percentage when you are still a fair way away from producing anything .....is in itself a ' Poison Pill ' agreement which might cause others to shy away. Unless like I stated before they take out Sayona holus-bolus which nullifies Piedmont's agreement , or they take out Piedmont which in turn entitles them to 25% of Sayona Quebec anyway ......and 18 odd percent of Sayona Parent which owns Moblan.

And so maybe this is also why Sayona undertook the Moblan transaction with ALL it's more complex additional Australian project royalty agreements , and which was ALL done under the Parent Company's banner ......as it provides an element of defense against takeover becausea.) it holds only 60% of the Moblan Project which is more than ONE Quarter of its Quebec Lithium Assets , and b.)if some entity was looking to take out Sayona's entire Quebec operations and get its hand on the Largest spodumene hard rock project in North America and NOT just 70 - 75% of it , they would have to go for , and deal with the Parent and not just Sayona Quebec who is a non-listed subsidiary anyway.

In any event , you can see how Piedmont's 25% of Sayona Quebec has somewhat muddied the waters a bit . And almost to the extent that you can easily start to see the need for a THIRD subsidiary , which is what I had stated weeks ago......in that Moblan and Sayona's share of Moblan will be backed into some other Venture I would think. ( a THIRD venture ) . Whether that is a tie-up Hydroxide JV with Nemaska at Becancour .....or with someone else will remain to be seen. Because , Moblan and its structure SHOULD be left in a Quebec operating entity. At least a minimum for its Tax and other concession purposes - However because of the 25% arrangement with Piedmont for Sayona Quebec , it can't