A bit more blue sky thinking about MOU vs offtake in the short term.
I had expected the next major news to be an offtake to VW or Tesla. However that would still leave Capex funding pre or post the DFS as a hurdle.
Given the size of the Stellantis EV investment, it could easily be that they will contribute a cornerstone sized investment to the Capex, in combination with Gina (iron ore price/margin is off the chart at the moment), say $0.5B each, balance to investors. That would de-risk the whole VUL story. I can’t see Stellantis limiting themselves to just two lithium suppliers without mitigating as many supply risks as possible. Capex support (even a board position) would help do that.
Only 279k for sale at Friday’s close. If the MOU is confirmed, it won’t surprise me if we hit $10.
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