PLS chart, page-22341

Looking over the fence FWIW;

Spoiler : At Liontown $379m deal of day

https://www.theaustralian.com.au/bu...ive-coverage/af20d9d29769e8a4be76d44ef84bf9ae
Liontown's $379m Korean deal for Kathleen Valley


Valerina Changarathil
Lithium developer Liontown Resources has secured $US250m ($379m) in funding and a 10-year offtake deal extension for its Kathleen Valley project in WA from South Korean giant LG Energy.

The funding is via five-year convertible notes secured at a conversion price of $1.80 per share and a coupon equal to a reference rate of Secured Overnight Financing Rate (SOFR). If converted today, the notes would give LG Energy an 8 per cent stake in Liontown, which also counts mining billionaire Gina Rinehart as a key stakeholder after her on-market raid to scuttle a $6.6bn takeover by US giant Albemarle.

The deal increases Liontown's total cash balance to $501m, providing balance sheet strength to fund Kathleen Valley's ramp-up to its targeted 3 million tonnes per annum steady state production. First production is targeted for the end of this month.
An existing 5-year LG Energy Solution offtake agreement is now extended to 15 years in total.

The two partners will also explore the feasibility of establishing a lithium refinery, which has the potential for long term value creation, Liontown told investors.

Managing director Tony Ottaviano said the funding will be instrumental in supporting the production ramp up to 3mtpa and early works necessary to preserve the potential 4mtpa expansion case for Kathleen Valley.
"These developments pave the way for Liontown to pursue our long-term strategy to be a globally significant provider of battery minerals as the world transitions to a low-carbon future."

LTR shares are 10 per cent higher at 98c shortly after the update.