Codelco's main (esp underlying) biggest asset to us is their already approved lithium Export Quota "excess" which ultimately makes us much more attractive to lithium end users. At 20,000mtpa we are only a $1,068,000,000 company, but if Codelco gives MsBodelco an additional 40,000mtpa in production capacity for 60,000mtpa total then we are a bery bery most-glorious $2,813,000,000 company.
The chances of Codelco only being able to scrape $300M cash together for the MsBodelco deal are probably fairly high so ultimately we "privateers" have to second-step trade lithium quality and volume to potential off-takers like CATL, BYD, Samsung, Molymet, f**k Fulin, Tesla, Ford, VW, Modi or Putin, etc to secure the additional $263,375,600 needed to complete the $563M Capex nut.
The Doctor
PS, you may be asking now "so why doesn't Codelco just give all of its excess Lithium Export Quota to the MsBodelco deal today"? The answer is Codelco wants in 2022 or 2023 to buy Enami's share in WML and create a WMLodelco JV super pumped-up/juiced-up by another 40,000mtpa capacity which they will have in reserve.
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