Ann: Ceasing to be a substantial holder from MUFG, page-42

IMO - MH tried to sign up Fulin but it didn't workout so the strategy was changed to after dfs  
before - Li price high, lots of customers looking to signup & secure supply, no talk of oversupply, scepticism around increased production by big 4 & others, if ot was in the bag focus after dfs will be on organizing funding.   
Now (i.e. after dfs) - All the above have turned negative from LPI perspective.. atleast for now.... it'll take 2 to 4 years for the cycle to revive - arranging over A$800mil funding becomes harder in current times..  
Again, nothing is impossible if they can manage favourable ot & funding by May/June that'll be absolutely genius...