"Diversifies geographical customer base, larger proportion of...

"Diversifies geographical customer base, larger proportion of Japanese/Korean cathode producers vs China dominated spodumene conversion facilities."

IMO BGS has a very strong advantage due to the fact that BGS is the only available high quality Lithium deposit right now. ( good mineralogy, grade & size) So BGS is very well positioned in the market & get the upper hand when it comes to negotiation.

I don't know whether the Chinese processors have reached out to BGS or the other way around, I think BGS shouldn't waste time with them. Just look at what happened with Rui Fu( thanks to old board). Processors have little to no money and will eventually be taken over by downstream players( cathode/anode/batteries). Specifically batterymakers, they're usually backed up by big funds. So I think they're the ones who have higher value to be BGS strategic partner.

IMO I don't really favour Japanese/Korean cathode producers as well, because they also partly rely the Chinese. e.g.: Shan Shan supplies to Panasonic, Reshine supplies LGC & SDI. They're just one of the lots who supply to 1 of those companies. So either way, BGS product will still go to the Chinese. Based on my experience & what I've seen, Chinese( not older generation) will be willing to pay top dollars if they know how much value they can get out of something. I'm guessing the Chinese could also bring another(or two) partner(s) who can greatly contribute to BGS long term, maybe miners/batteries or cathode producers/funds?

Happy to be proven wrong but Korean/Japanese have been using brines for their supplies, so there's definitely a risk of them not being able to contribute any value to BGS going forward.

Please take my post with a grain of salt as this is purely my own perspective.