To Handle (stupid HC keep dropping the reply field recently -...

To Handle (stupid HC keep dropping the reply field recently - utter trash).

A few things.

The road from Adina to Renard will be built and will not hold up production.

You are referring to an old proposal under the Alliance banner with later start date. The new proposal, submitted recently, to construct a road between Adina and Renard is led by a Cree company. It is proposed to be funded under the Critical Minerals Infrastructure Fund.

Importantly, that road will enable many things.

If Winsome can secure an agreement with downstream that will ensure that the downstream is build out in Bécancour (ensuring flow on jobs and economic benefits stay in Quebec), while insulating parties from pricing shock in the immature lithium market (stability of those benefits as well as ongoing tax revenue), I think you can guarantee governments will bend over backwards to make sure they are not a barrier.

That is the most likely outcome from my perspective. CE has said as much.

Secondly, once such an agreement is struck, a hydroxide producer/battery manufacturer can be assured feedstock for a hydroxide plant/battery manufacturing facility. I would expect we will then see construction take place quickly. No doubt ready for Adina/Renard feed.

There are lots of companies who seem to be 'waiting to see how the refining situation will be tackled'. Most of those are lifestyle companies, like Azimut and Comet. In reality, that's an excuse to do nothing. Rent seekers who want to be paid out for sitting on prospective land.

If there is no certain feedstock, then there is not refining built out otherwise you risk having a stranded asset. This is just one reason why the Winsome offtake is so incredibly valuable - those who do not secure it risk getting left behind or locked out of the NA downstream.

The other benefit of the road will be access to cheap power. Renard will be cheaper than most regardless, but access to hydropower will be the icing on the Winsome cake.