Ann: LIT: LIT response to counterclaim, page-153

Other than the main sticking points in the clauses. The rest of the agreement remains commercial in confidence. Which is normal, leaves you free to negotiate better deals with additional interested parties.
The LIT licence with EMH was project specific, they do now want to allocate that licence to use elsewhere ie: NT, QLD, MEX or CAN. They were only allocated two licences outside of WA. Hence the motivation for Sileach. As for claims they can do Spodumene commercially and cleanly, remains completely unproven since these claims arouse back in Feb. A very smart man recently stated that if Spodumene could be done better than it is, than that would be the industry accepted way right now. The ability of the Chinese to industrialise cheap methods of operation can not really be argued with. They would have done it already.
My crystal ball says. IP was breached, no more Sileach unless damages or substantial royalties are paid out.
Clauses were breached with LMax agreement. Licences null and void and LPD end that relationship in full.
LITs ability to raise funds has nosedived. I see it as a shell within two years with a few stubborn investors left saying, why didn't I head the warning signs.
The management are already looking for the door, taking massive salaries and performance shares to cash out on the way back over to RCL and PWN. Both having recently entered/ entering the Lithium game.
LPD will crack on unimpeded, although a cap raising/ possible consolidation will likely be required to prove up some of the many potential money spinners we hold. But how many juniors will need need additional funds to advance, answer - not many. It's part of the game.