In general, I don't disagree with what you are saying, and yes there are examples of it happening but in this instance the Ganfeng and Leo's binding Sale and Purchase Agreement would make no financial nor logical sense to not meet their obligations.
The disagreements back and forth are based on the claims of "others" that Ganfeng has an ability to reevaluate, get out, walk away, not pay the tranche 1, reconsider their position and whatever else that was stated ALL based on the declining price of lithium.
Ganfeng will own a minimum 65% of the Goulamina Project if they proceed with the sale agreement, if the don't proceed then that percent of ownership will drop to a minimum of 39%, Leo 26% and the Government up to 35%.
They still have the rights over off take for all of stage 1 production which if the sale progresses, they will only have to "pay" the government for their 35% percentage ownership. Conversely, if it doesn't progress, the percentage they will have to pay will increase to 61%, the bottom line is, they want and need the product from Goulamina.
The telling difference between Lithium producers and Ganfeng is the producers are reliant of Lithium sales for their business profitability whereas Ganfeng aren't, their business is downstream conversion and Lithium products.
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