Ann: Ceasing to be a substantial holder from PWN, page-6

For years the huge Zinnwaldite deposit at Cinovec, held by EMH, was considered uneconomical. Then it was shown that it could be processed without roasting using LMax. The deposit was then considered to be an economic possibily, not just because of LMax but because there would be large tin credits to offset cost and because of previous mining and exploration and the existing infrastructure there. Now EMH has rejected the LMax option and LIT still has the LMax franchise for Western Australia and two other areas in the world (could be Europe and eg Canada.) ie LPD can earn only 2% royalty in WA.

I bought LPD when it was called Patypus, but when it seemed to me that they would lose their prime option at Cinovec I sold at 1.7 cents. Still watching LPD but their options seem less tenable now - no large lithium bearing mica deposits with other credit offsets.

If the SiLeach patent is granted ( could happen in May , 3 months since the application date) and the detailed data from the Stage 1 trials by Murdoch Uni and ANSTO are positive (due to be released about now) then LMax may no longer be seen as a threat by LIT in its quest to dominate the area of hydrometalurgical production of lithium chemicals from hard rock lithium ores including micas, lepidolite and zinnwaldite. (Expect an announcement of some sort from LIT early this week)

LIT may let its TO aspirations slide. Holding LPD shares may no longer seem important and it could dump 340 million LPD shares on the market. This would surely scuttle the SP at a time when CR may become necessary.