Good News & Bad News, page-37942

PLS put it out there early last year that they had up to 200kt of spare capacity this year, for potential new customers or existing off take customers. IMO, Ganfeng thought their own projects would be enough to cover their requirements. I suggest they see a shortfall in their raw material supply over the next few years so why not take up the spare capacity of an existing, qualified supplier.

As Dale said in the Commsec interview, each of PLS's customers are asking PLS, "Can you supply more product"? Dale replied. "So those discussions are underway". I think Ganfeng's requirements were known and the finer details being put on the off take.

I'll say it again. There is no indication that P1000 will be delayed. If existing contracts with Ganfeng and Posco JV are taken into account, a large portion of existing production is accounted for. Other suppliers look to be curtailing production which is being supplied into spot in many cases. PLS being ready to supply into a short market, is a good use of shareholders funds. Look through the Haze as Dale said. I'll say what he really meant to say. BS, smoke and mirrors.