I entirely agree with W2's post :rolleyes:;). Just wanted to add...

I entirely agree with W2's post . Just wanted to add that I have absolutely no idea how anyone can see anything bad from this. It clearly shows that MIN are interested in buying our spodumene concentrate.
If they match the deal we have, Fantastic, we are 2.5% better off on the revenue side of the equation straight away. They pay us money for shares, and effectively they take the 140,000t to do whatever with, then JV with us to build a conversion plant and we supply another 140,000t of concentrate goes there.

We are then free to do another deal with GLC who have strong backing and will make sure the next deal, that sounds similar to the first one, MIN can't beat (not much chance of them matching the first one but that is beside the point here).
We then go on to sell them 140,000t of concentrate and start the JV straight away on another 140,000t conversion plant.

Anyone done the maths yet? That would be 560,000t of spodumene concentrate accounted for by 2019-2020 at the latest. You don't get that from a 2Mt/a plant!!

Then there are the other offtakes that come in, and the companies we are dealing with NOW know that the deal must be good for US or it will get taken off them by MIN.
This is just Win Win WIN for PLS. MIN have just done a lot of the hard work of negotiation for us, with our customers working with US to make sure they get the spodumene concentrate.

It is not like they have a choice of somewhere else to get quality spodumene from. Apart from Altura, that basically are already all tied up with their output, there is nowhere else to get quality spodumene!!

MIN have guaranteed WE get great prices and will be working WITH our customers on the deal instead of trying to each get the better of the other. THEY now know a deal can be taken away from them.
So what is the hardest part of a deal for MIN to match? A LOT of CASH UPFRONT.

Thanks MIN IMO you have just added a LOT of value to our company, and many investors will wake up to this pretty quickly!!
John Young's thoughts were along those lines as well IIRC.