Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-41

While much of the focus is rightly on the Li to be produced from the P1P, the changes in Cs may be strategically more important.

The DFS (2020-05-28) discussed the production of 246 tpa of caesium formate (CHCsO2). The 2021Q3 Report amended the target to caesium sulphate, hydroxide and carbonate. The provisional patent application for the manufacture of ternary Cs-Rb-K compounds for use as a catalyst provides LPD with a meaningful competitive advantage, and enables it to become the world's largest non-Chinese Cs specialist chemicals producer.

Although the Cs market is opaque, there is enough information available understand that the specification of Cs catalyst must meet customer requirements. If LPD was to continue to produce CHCsO2, then additional processing would be required to produce a spec product. As such, prospective customers for CHCsO2 would more likely be chemical re-processors.

The changes discussed in the 2021Q3 Report imply that LPD is now able to engage directly with end-users for Cs OT agreements. The Report also indicates that LPD is single-handedly going to create an alternative supply Cs catalyst channel (especially attractive to US customers), and become one of three global producers.

OT agreements are due by the end of 2021, so let's see if Cs is included in the first round.