Re: Form 6-K
in response to
by
posted on
Oct 21, 2020 05:38AM
"For clarity" !
“For clarity at a production rate of 40,000 tpa, Ganfeng Lithium is entitled to its 51% share of production (20,400 tpa) and 80% of LAC's share of production up to 25,000 tpa (9,800 tpa) or, in aggregate, 75.5% of 40,000 tpa (30,200 tpa)."
Clear as mud to my old eyes.
Not sure how this jives in coordination with the Off Take Agreement for Bangchak. A report in NS Energy earlier this year reads as follows:
BCP Innovation, a wholly owned subsidiary of Bangchak Corporation, is providing $113m in financing for the project. Bangchak will also provide $80m loan to LAC for the construction of the project.
LAC entered an off-take agreement with Ganfeng and Bangchak in January 2017. Ganfeng will purchase 70% LAC’s stake in the mine, which may increase to 80% only when Bangchak’s 15% off-take is effective."