The way GFL calculate their average price is different, however...

The way GFL calculate their average price is different, however the minimum and maximum payable is still the same as Optimum and  Lionergy i.e. US$550 minimum to US$950 until the end of 2020.

Key Terms of BOA – GFL International Co., Limited (GFL)

▪Minimum of 70,000 dry metric tonnes (dmt) per annum of 6% grade spodumene concentrate (SC6.0) with minimum 8,000 dmt commitment in 2018;

▪Term of BOA current to 31 December 2021 with a further 5 year extension at GFL election plus an additional 5 year extension by mutual agreement;

▪US$11 million pre-payment on 2019 shipped cargoes;▪Minimum price of US$550 dmt (FOB equivalent) based on Li20 content per dmt on 6% Li20 until end of 2020;

▪Maximum price of US$950 dmt (FOB equivalent) until end of 2020;

▪CIF pricing based on agreed formula incorporating published reference pricing weighted for lithium carbonate and lithium hydroxide; calculated quarterly in arrears