Not sure what your definition of success is.
Sayona Quebec AISC, even what I expect them to be are still below long term Spodumene Concentrare pricing, so I think in that regards it will be successful.
The way I look at it is PLL will be getting near term dividends from the JV by way of the offtake. It was a very savvy deal for them at a low cost. Next couple of years will line their pockets. Obviously they have issues at their Galston County project but they have a history of makimg savvy opportunistic deals. The Sayona Quebec JV is just one part of their business but it will bankroll the company for the next few years. Normally in a situation like this, one would expect the JV to withhold dividends to the partners given the converter obligation which won't be cheap. The way they structured the JV to basically take at least half the output in initial years at cost and flip to 3rd parties derisks them a lot.
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