Just to clear up the understanding or lackthereof on the offtakes. Volume commitments for the 3 existing offtakes, lg, tesla, ford, commence on declaration of commercial production.
Up to that point and noting the company would not declare commercial production until they are certain they can deliver the quantities committed, all volume will be sold to the highest bidder, be it the 3 or anyone else willing to pay a higher price. There is no pricing mechanism underpinning uncommitted volumes ofcourse so it will be competing against the rest of the spodumene in the market. I don't think grade is an issue and there is certainly no "green" premium. Sigma sells what they call triple zero spodumene, lower grade but arguably greener product if one chooses to buy the theory. The industry is far too immature to warrant any price bifurcation for allegedly green material, not to say it will always stay that way._
The Ford offtake is bound by the existing debt facility and more broadly their reputation in the industry. Highly unlikely they would reneg on the offtake if Ltr can deliver. Similarly with lg and tesla but to a lesser extent. One would be hard pressed to find a better suite of offtakers in the current market. Whether they have conversion capacity or not is not ltr's problem or where the product ends up (china in all likelihood) at least for the foreseeable.
None of them are even remotely comparable to Altura offtakers.
Aimo
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