PLL

5.26%

20.0¢ piedmont lithium inc.

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amlez

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06/01/24

20:13

Post #: 71758176
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Originally posted by Paddywagon1982: ↑

Here's by interpretation:

1)PLL have an off take agreement with SYAQ a separate legal entity to SYA who holds the cash
2) SYAQ is owned 75% SYA and 25% PLL. Any Strategic decisions to put the operations go to vote- PLL have one person on the board (out of 4) representing their 25% interest. Three people vote for C&M, one person votes for continuing operation- the C&M crew win.

The decision to vote on C&M is a democratic decision taken above board with the involvement of PLL board member. The fact that the decision went against PLL wishes and effectively voided an off take with Telsa isn't the fault of SYA, as it was voted through normal board procedures in in the interests of its shareholders and board members representing its shareholders. PLL can't cry foul play as they were part of democratic decision as it went to vote.

Sure the plant is close to beak even, but I suspect the start up costs included stripping costs which from a cashflow perspective would have been paid up front, but expensed as and when shipping is made.

any decisions to cease operations will be a joint decision as it's a joint venture, and PLL will have to suck it up as they will be part of that decision IMO

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PLL Price at posting: 38.5¢ Sentiment: Hold Disclosure: Held
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