Income from the off take. $18 million US which is around $24 million AUD.
Should have been out last week I am speculating that the processors have noticed the foreign exchange rate and might be trying to renegotiate for the long haul.
The Mitsubishi distribution agreement said:
"General Mining and Mitsubishi to explore processing opportunities for downstream processing in order to jointly share in the benefits of value adding to sales of spodumene concentrate from Mt Cattlin."
Either way spodumene will be leaving on a boat by July - August .
I have heard that there is no spodumene available for processors not a part of Ganfeng and Tianqui for instance who are holding their stock for themselves to help bump up the lithium price.
Galaxy and General are the only ones coming to market in the next 12 months with spodumene to sell and send.
