no chance PBT will want majority ownership of itself in Aust but...

no chance
PBT will want majority ownership of itself in Aust but may issue shares to POS in part payment of dues due to POS.
This would be company making & ground breaking.
SO maybe the other way around, PBT need to pay POS for the land, licensing rights, ore milling & offtake conc going to the refinery in 3-4 years time so PBT might want to take a 20% stake in POS on market or gift 33% shares to POS in its Aust entity as part payment of JV terms.
POS dont need to issue any shares to PBT, we dont need to pay them, they need us to get this built & our ore, so its all one way traffic going to POS.

PBT if they list on ASX might issue POS 33% of its shares in PBT also as part of the JV terms for consideration for what they will owe POS.

I think short term though, POS will need a ST offtake for 3 years with Trafigura to produce its ore and get the mill humming at $1B pa revenue so that it can fund the buidling of the refinery itself using cash instead of debt.

rerate for POS as a mass producer & refiner & battery producer just starting.
A vertical integration manufacturer not just a miller like PAN WSA MCR, big difference
WIN WIN for POS imho.

CAPPERs going to BURN BURN BURN.