Hi Sorest, I would agree that USD$100M seems trivial now when we are raking in billions. However, negotiations on the Posco Joint Venture commenced years ago when we were not so flush with money.
Extract from media announcement Monday, 11 April, 2022
“After allowing for initial working capital and pre-production financing costs, the total funding requirement for the JV is now expected to be approximately USD$750-800M.”
You have calculated that Pilbara’s ultimate 30% share should be around USD$100 million on our input to the JV of USD$225-240M. That’s over 40% pa and certainly not to be sneezed at.
The Joint Venture also assures us of a 315Mtpa offtake at commercial rates to a non-Chinese company (POSCO), hopefully commencing late this year.
I don't like Pilbara's dependence on China and I have been trying to ascertain just what non-Chinese companies have Carbonate or Hydroxide converters that could be customers for our Lithium spodumene. I can find talk about proposals to build converters, but what I would like to know is what converters outside of China are actually producing commercial amounts at the present day.
Cantankerous James
Hi Sorest, I would agree that USD$100M seems trivial now when we...
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