Hello Agoracom crew.  I finally have a day off from work so I did some LAC digging this morning.  I know I have read this document in the past but I can't remember if I previously posted it or if someone else did on this or TOB.  Either way, I think the August 7, 2020 letter that Alexi Zawadski sends to the Nevada Governor’s Office of Economic Development contains lots of clues around the future path of LAC.  Some of my highlights are listed below:

First Alexi lays out the four primary steps to making lithium-ion batteries.  Then he says the following:

• LAC only plans to fulfil the first two of the four key steps in advanced battery manufacturing
• In step 4, Alexi specifically mentions the existence of the current Tesla/Panasonic Gigafactory in Nevada and the planned SK Innovations new Gigafactory in Georgia (could be on hold now)
• Alexi says in the future "We will also be able to retool our plant to meet anticipated demand for specialty lithium chemicals for such things as solid state lithium batteries"
• Alexi says "During Phase 1, Thacker Pass will make 30,000 tons per year of lithium carbonate equivalent" (They have been all over the map on target TPA's for phase I)
• Alexi says "Most of this supply is expected to be exported to cathode producers in Asia and elsewhere in the world." (All to Ganfeng or another third party?)

What does this all mean?  I don't know but maybe the following?  LAC does not appear to be tied to anyone in the States for phase 1 of the project and it sounds like all the future Cathode and Next Gen All-Solid-State battery information listed in the draft EIS is only for phase 2?  Maybe Ganfeng loans them part or all of the TP Phase 1 startup costs (LAC should have at least $100M to contribute) and in return for the loan Ganfeng has full offtake rights on TP lithium carbonate and lithium hydroxide?  Would LAC be allowed to take a loan from a Chinese company as long as they don't take an ownership stake in TP or a more significant ownership stake in LAC?  Is this why Bangchak is selling a large part of their LAC shares because they have been cut out of TP offtake rights?  Lots of questions but I find the letter to be fascinating with many additional clues on our favorite company.  What does everyone else think?  The link is listed below.

https://goed.nv.gov/wp-content/uploads/2020/09/7-B.-Lithium-Nevada-Corp.-Board-Packet-2.pdf