Yep not looking too good for their vertical integration plans.
Interesting fact, When SYA establish production of hydroxide/carbonate SYA will be one of a small few that will have vertical integration all in the one place.
Remember China relies heavily on Australia's Greenbushes SC6 to the extent that their refineries are so callibrated to their ore they avoid using the SC6 from the chinese mines as they are unable to achieve yeilds anywhere what they are able to with Greenbushes SC6, so not really a great deal of vertical integration even in China, especially all in the same location.
If they can offer a timeline of late 2004, early 2005 then companies will be queing up to offer financial support to establish offtakes woth SYA.
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