Absolutely not. Especially during rampup, but I expect that once...

Absolutely not. Especially during rampup, but I expect that once in steady state operations, AISC will still be above US$900t. Worth noting that the OTA agreement is on a delivered basis to the US and is based on a grade of 6.0. We are yet to see how much PLL will be paying considering the grade is well below 6.0 and PLL will likely be paying on a FOB basis. Given those 2 factors, it may be that PLL will be paying below US$800t.

While on this topic, the latest announcement by PLL regarding it's first shipment states it has been sold on an FOB basis, so use caution when comparing to China CIF spot prices. Shipping from Quebec to China isn't cheap.