In the 2nd May 2017 Gangfeng offtake announcement it is detailed that a pricing formula will be used to calculate the price for spodumene based on the price of lithium carbonate.
This seems relatively straightforward on the surface but it occurs to me that both parties may have wanted to build limits into this formula. At the simplest level PLS could asked for a price floor (eg via a constant in the equation) and Gangfeng could have made the arrangement with a price ceiling or something to dampen their costs as prices increase. In reality a number of constants and moderators could have been included in the equation.
I am interested here in exactly how lithium carbonate price increases translate into increased profitability (as the relationship may not be a simple linear one)
Does anyone know if PLS have put any more information out on the pricing formula?
pricing per tonne
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