Welcome back mate.
Its freezing in Melbourne, would love to do a month in Florida!!!
Yes Split, they are admitting year end nameplate is 226kt/annum, it in the footnote...even though most of their published production rates for NAL is still 168. So by their rhetoric, it should be 42000 ( half 168/half year)
226kt nameplate has been the target from mid 2021, as you said, that's where the original 113 was derived from.
Piedmont's SEC 10-k 30 June 2021, was the first document stating this figure
The VERY interesting part is-
Piedmont keep pushing the 113kt or 50% WHICHEVER IS
GREATER....
They have just let the cat out of the bag, and admitted in this presentation, it will be 50% of SYAQ's production..
WHY, HOW, I hear you ask???
PLL are projecting 56500 from NAL next year, which they say is half a year/6 months of production.
Half a year of production at nameplate of 226 is 113.
50% production, is the 56500 they are quoting.
So why aren't they quoting 113kt for 2023, which is '113kt or 50%, whichever is GREATER' ?????
They are only quoting 50% of production, for each year, including 2023.And as you stated, 2025 onwards is a bust, as the spod will go to the conversion plant.
BTW, the plant will produce more than 113kt next year.
With commissioning this month, shake down and testing to March, I think we may see 9 months at near full capacity, with I think will be closer to 230
So production next year could run up to about 172 kt SC6, with PLL to take at least 86kt.
But, there is still one more catch....the date for agreement for the offtake to begin.
As stated, its BY AGREEMENT between July 2023 and July 2024
So maybe Keith and Brett have crunched a deal, which would explain why they both looked so happy, during their last romantic dinner in Quebec?
Keith- I need cash man.....cash...The permits are killing me...I need to grease some palms....I have played with the figures and everything is at the top end. I have minimised expenditure and timelines, and maximised our revenue. My books are going to be a mess if I cant make this work, then I am screwed. I know the date in our offtake says July 2023-July 2024, can we please make it on the earlier end???
Brett- Are you still sticking to the 113kt of 50%, whichever is greater line?
Keith- Well yeah....I told you , I need cash .....ASAP.....god dam dirty senators....you know....
Brett- No dice July 31st 2024 it is then. We will sell it ALL, then well send it out to the carbonate plant...sorry mate??!!
Keith- Come on my old mate, lets work something out, I am counting on it. otherwise my ass is toast...
Brett- Righto.....let me think???
How about, you only take 50% from 2023, so we get half each?
If you do that, I will agree to bring the offtake start date forward to July2023?? then you can meet your H1 2023 target you keep spruiking.
We have been going flat out mate, I reckon we can get to nameplate between March and May. We should be able to pump out around 172kt spod. Then we can sell it together and split the revenue 50/50.....not bad for your 25% stake.
(Spot- 172000x 8000= US$1,376,000,000)
That is US$688,000,000 EACH my old mate....you will be able to grease heaps of palms with that and smash those permits through and get your hydroxide plant back on track.
Remember Keith, he who own the rock is King.....
Keith- You know what pal, I think you have cracked it......we have reached an accord....
Let me ring the boys and I will get them to whack it into the latest presso....discreetly of course....we will keep this on the low, low..wink wink...
Brett- At least that might get my feral retail holders off my back.....I think they are lining up to lynch me at the AGM, I had even
organised security....if I start throwing some dollars around, I might just survive this...
Good luck everyone.....
(20min delay)
