lithium tender confusion

Its interesting to note the tender was delayed on April 8th to wait for ‘low quality Chinese li-carbonate to leave the market’. Now it is delayed because they need to finalise the ISO.

As far as I can gather the company needs to sell forward its lithium to enable the financing of this project. According to the company it plans on receiving:
• $40m from forward sales of Lithium and,
• $60m from NAB project finance.
This still leaves the project $20m short of full financing should the plant cost $120m.

Also, the NAB project finance would undoubtedly be conditional on raising the $40m from forward sales. The concept of being able to forward sell offtake at a decent level, as far as I can gather, depends solely on the health of the lithium market. I understand lithium carbonate prices have weakened in recent months (although still at very healthy levels around $6000/t). In a weakening price environment and with ADY desperate to get this thing financed, I just wonder if the potential buyers of this offtake will not play hard ball and attempt to screw the price right down so ADY needs to sell 20-30% of its offtake going forward to finance the project, rather than the 10% it is currently planning.

Anyone got any opinions on this??