Hey Cal.  In my opinion, there is no way LAC managment would try and issue ~58M shares @ current pricing.  This would totally dilute themselves and other shareholders.  I think they are setting up this shelf offering for (2) potential future events:

1.  The issuuance of debt securities for TP funding.  Someone like Hyundia or Samsung would lend LAC $500M to build out TP in exchange for a future offtake agreement at market pricing.  This would be a win/win for both companies.  Hyundia/Samsung secure future lithium access and LAC is able to partially fund and build out TP without any stock dilution

2.  Once the DFS is released and other key corporate milestone events are achieved, I believe the share price will materiallly increase in the coming 3-12+ months.  It makes no sense to sell shares at current pricing but if LAC's share price was at $15 (~33M shares) or at $20 (~25M shares).  It may make sense to sell some shares to the market at a higher price point.  I don't want any dilution but no strings attached cash is always good for the balance sheet.

What does everyone else think?

WB DT