100% agree.Arcadium Lithium will have a lot to say with the...

100% agree.

Arcadium Lithium will have a lot to say with the speed of development of lithium mining and refining in Quebec ... as will Albemarle in the longer term.

Anyway, IMO its TLP that drives 2024 transition for PLL. And as KP has said, they are not in any hurry and it will be a partnership ... and that will be most important. The DoE loan is a natural ... expecting $600M+ ... and the application will progress (not close) without a partner and offtake having to first sign up. Once the partner strategy and balance sheet structure is determined (and the partner will have a lot of input here) the OTA with that partner will be completed and "credit approve" the needed cash flow for the requried credit metrics to allow the AVTM loan to go ahead. I don't often use "will" as its an absolute, but if there is going to be a USA lithium refining industry then the Gov't (DoE especially) will have to provide much of the risk capital and the operating incentives to make the industry competitive with China (with their state subsidized industrial sector). The other thing that needs building (quickly) are the Cathode Active Materials plants in the USA .

In case we missed it

https://finance.yahoo.com/news/lg-chem-breaks-ground-americas-214718974.html#:~:text=LG%20Chem%20has%20aspirations%20of,cathode%20plant%20in%20Clarksville%2C%20Tennessee.

"LG Chem has aspirations of building a production hub for the global battery material market in the United States. Those efforts finally put shovels to dirt this week as the battery maker started construction of a new cathode plant in Clarksville, Tennessee. The factory will make cathode materials specifically designed for North American electric vehicles (EVs)."

CAM plants need Lithium salts. And of course LG is PLL's largest shareholder (that isn't a Fund or ETF), has an OTA for SC from PLL (from NAL) and has FRoR on LiOH OTA with TLP (roughly speaking). Clarkesville is ~200 miles from TLP.

But they (USA) are going to need a lot more of them (CAM plants) to feed the planned Gigafactories.

3 years is a short time frame to wait for an investment that operates for 30 plus years.

https://www.just-auto.com/news/lg-chem-begins-construction-of-cathode-plant-in-tennessee/?cf-view