Company: FEAV
Filing Date: 2025-01-17
Form Type: DEFA14A
Source: 0000950170-25-006729
Chunk: 11

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-01-17
Form: DEFA14A
Chunk 11
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 there's going to be obviously CPs or closing precedence. And one of them will be FID and any potential capital that would need to come to the table to kind of, depending on where your leverage ratios are at.

So it's a process, but I'm excited that new administration's in, and we're going to kick that process off at the end of this month.

Romeo Maione

6ix

Oh, great D in the chat let us know if that answers your question, but I reckon it does. I also referenced Paul, offtake agreements, I'm not sure if you had any additional, it was one of my questions if you had any additional info about the status of those.

Paul Weibel

CEO

Yeah. So I think it's. It's good to note that we continue to send out samples. Ken has been doing some heavy lifting over in the Asian markets and multiple specialty glass manufacturers that product has now gone out to for in the samples. And I think that is the offtake agreements and the form of offtake is one of the agenda items at the end of this month that I want to talk to XM about because listen, this is a market that the boron market needs a new supply of boron.

It is an oligopoly where you have two very large companies that dominate 85 percent of global supply with very large healthy balance sheets and one is essentially a government entity. So both of these have the balance sheets to really set their offtake agreements that can. It’s their pricing causes are going to be subject to market and market provisions wouldn't be bankable for 5E and XM.

So it's really important that we get this part right and ensure we have a form of agreement hat's going to work for XM. And so I think there's that piece, and then you have the byproduct piece. And so we have a parallel process on calcium chloride because ultimately the price we get for calcium chloride dovetails right into our model, which is going to drive what's the price or for we can offer on the offtake side.

So the two go hand in hand. And I think discussions are good. Like there's very supportive customers that Mark's talking to, but we want to get that right with the XMDs.

Romeo Maione

6ix

Makes sense. On byproducts, actually, somebody wrote in over email asking what byproducts you're considering long term to expand the product portfolio?

Paul Weibel