here's my notes so far, I'm still only in 2016.OFFTAKES
§ GeneralLithium (40% of PLS stage 1) – 4 July 2016
o Over 40% of annual production (approx. 140,000tpa) of SC6 from Q1 2018 for 6yrs + 4yr option.
o Pricing set on a 6-month basis by formula based on price of LCE.
o The carbonate price reference will be determined via a combination of Chinese import and export prices of Lithium Carbonate, that are published via reputed websites for commercial access.
o Provide technology, expertise and IP to build and operate lithium chemicals production facility through a JV, outside of China, where PLS will have 50% equity in the downstream processing JV and co-fund the plant’s development.
o Equity subscription for $17.75m via 3% placement @ 50c per share + a further 2% once FID made.
§ ShandongRuifu Lithium Co – 10 Nov 2016 (might not count towards future revenues)
o Supply of crushed by unprocessed Direct Shipping Ore (DSO).
o 1.9mt of run-of-mine for 2 years commencing July 2017.
§ JiangxiGanfeng Lithium
o $80m placement
§ POSCO
§ Great Wall Motor Company
PRODUCTION
§ Stage 1 (2Mtpa) 330,000tpa life of mine
o 140,000tpa to General Lithium for 6yrs + 4yr option.
o 8,800wmt Oct 1 and Oct 2
§ Stage 2 (5Mtpa) 800,000 tpa
ISSUES
§ Resolved right of first refusal (ROFR) with MIN for $50m in PLS shares @ $0.48 per share to MIN so that PLS can offer offtakes to anyone without first offering to MIN.
Good News & Bad News, page-19945
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