Thanks GC for the responses. However I don't care how much small...

Thanks GC for the responses. However I don't care how much small print, footnotes and legal disclaimers they add in it's simply misleading for them to show in the table 100% of the production of Nemaska Lithium when Arcadium owns only 50% of the asset. By doing so they not only overstate the current situation but the ex-Livent management crew downplays the actual significance of the Galaxy / James Bay project which was an Allkem asset (sounds petty but why no inclusion of Mt Cattlyn or Nahara).

As for Arcadium buying the other half of Nemaska from the Quebec government agency, Investissement Québec, yeah maybe, but given Arcadium is already looking a bit overleveraged it would likely have to be a scrip deal. That Investissement Québec as 50% owner of Nemaska would have been expected to pay half the cost of developing Whabouchi were Arcadium to buy the other 50% of Nemaska then it would have to come up with the extra money to fund all of the costs of mechanically completing Whabouchi. Which means that Arcadium would have to come up with additional funding to build Whabouchi even if it bought out Investissement Québec using scrip. Another factor is that obviously the Quebec government is far more hands-on than Australian governments have been in the last few decades and it seems quite comfortable part owning numerous business ventures.

I doubt the provincial government in Argentina would be looking to sell its share of Olaroz (which it got for free, upfront) given the general mood in South America for increased local ownership of lithium brine assets. I also doubt that Toyota Tsusho would be looking to offload its Olaroz share either in light of the Toyota mothership's much delayed move into EVs.

As to "mechanical completion", no biggy, a rose is still a rose. To be overly pedantic, my guess is that "mechanical completion" is more usually used in the construction of chemicals and oil and gas facilities, not in developing mining operations. Probably indicates that Pall the pallid pom still knows fa about hard rock mining and still has no interest in learning (remember the clanger he dropped the only time he spoke directly to the Australian sharebase: "there are no synergies between Whabouchi and James Bay projects" ... FMD).