I agree with Neil: “…Partnering will lower the cashflows, lower the execution risk (discount rate), and overall add significant value.”
I think partnership will happen, it will require almost $1 billion dollars to fully develop and build Thacker Pass facility so would not be surprised if LAC gives away 30-40% of production. Still SP eventually will get to $70 range in 3 to 4 years which should be fine with most long term shareholders.
All ahead.