SYAQ/PLL OTA-Piedmont and Sayona confirmed the terms of the...

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Koproskilo

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11/05/23

09:59

Post #: 67715236
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Originally posted by cmonaussie: ↑

Correct. For sure not.
Don't forget they (PLL) already have clear title to a certain amount of ore from their OTA with SYQ. Theirs to do what they with ... after paying their obligation to SYQ.

And there is the difference I'm trying to understand from what you've written. SYA does not have title to the "remaining ore" that has been produced for sale, SYQ does. It may well be a SYA employee doing the negotiating (or not) for an OTA with for grins lets say Samsung. Samsung provides a Purchase Order to SYQ (not SYA) to buy and pay for OTA. If Samsung wanted to have a closer connection to the ore from NAL they would need to buy equity into SYQ ... unlikely right ... can't see SYA or PLL selling down (but possible). They could also do the same as PLL and buy equity of SYA which gives them an "economic interest" in SYA projects (just like PLL has in addition to its part ownership of the JV SYQ, and that is the same as what LG has done ... an economic interest in PLL projects).

And that gets us back to the where we started ... is it a good idea now, at this price, to sell, newly minted shares in SYA which is what I thought you had suggested ... "betting that" .... does SYA need the additional capital now (being next 12 months) given what we now of its capital requirements ... I think that answer is no. (And for the same question for PLL that answer is yes, that would need that extra capital now and so placed $75M new shares with LG at the time of that OTA ... wont go into the why as its not a PLL forum ... happy to discuss further on PLL if you wish).

For me, if I see SYA raising additional equity through share sale when SYQ OTA concluded for balance of production, then I think they are looking for something to add to their portfolio. That's what it boils down to IMO.

Back in late March I suggested AllKem to merge with LTHM to create a "Quebec powerhouse" for hydroxide from spodumene, faster than before. That was just announced.

Moblan production, at present, is "far off" (JIMO). What brings further new hydroxide capacity to Quebec sooner.

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SYAQ/PLL OTA-

Piedmont and Sayona confirmed the terms of the spodumene concentrate offtake agreement between SYQ and Piedmont. Under the offtake agreement, Piedmont is entitled to purchase the greater of 113,000 metric tons per year of spodumene concentrate or 50% of production from the NAL project. The agreement also covers concentrate produced from ore mined at SYQ’s Authier Project. Purchases are subject to market pricing with a price floor of $500 per metric ton and a price ceiling of $900 per metric ton.

That says it all.................

SYA Price at posting: 20.0¢ Sentiment: Buy Disclosure: Held
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SYAQ/PLL OTA-Piedmont and Sayona confirmed the terms of the...

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SYAQ/PLL OTA-Piedmont and Sayona confirmed the terms of the...

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