What I want to know is its impact on the JV arrangement going forward- the JV being a separate commercial arrangement. PLL presumably still retain 25% in SYAQ via JV, but there sharing holding in SYA reduces to circa 4%? Didn't they originally hold 15% -16% of SYA? Does the JV contain provisions for equity disposal or transfer of ownership? Given that JB is a commercial lawyer I presume he has thought of this.
It would appear they (PLL) have done this for cash flow reasons- purely but if they still retain 25% equity in JV they will still have to fund it at current lithium prices.
On the other side someone is after obtaining 11% equity stake in SYA and this is clearly material - it has to be a partner of some description and will have to be reported to market. Share price rising in tandem leads me to believe a large proportion of PLL holding was shorted.
General Discussion Topics, page-132086
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