I guess you're right in that there's no legal...

I guess you're right in that there's no legal responsibility but they are so closely linked in the JV at NAL that it's very likely that 1 fails, the other fails for the same reason.

Economically they both rely on each other.

The sale of shares is essentially a way to raise capital. I don't think you need reminding of Sayonas capital raises over the last 4 years? If they had not done those where do you think Sayona would be?

These companies have strategies in place for these exact scenarios and cycles in the market. I think it's naive to say Piedmont is on the brink of failure just because they raised some capital.

I guess what you're not grasping is that Piedmonts core business at the moment is 100% economically reliant on NAL doing well and the lithium price increasing.

Sayonas core business at the moment is 100% economically reliant on the success of NAL and the lithium price. Do you see the link?

The last line concerns me that you aren't grasping this. "both companies need the cashflow" Exactly!

.. And nobody wants the hear it (me included) but C&M is definitely a possibility. Dont stick your head in the sand.