It is my belief that LIT will not get a patent for SL. This is because Shandong Ruifi Lithium (yes the same one that has a takeoff agreement with PLS that if LIT is successful with SL will compete with) owned several patents extracting lithium using fluorine chemistry. It is my belief that LIT knows this or should know this but have not done continuous disclosure. I have reported this to ASIC. Shandong Ruifi obtained the patents from the Fuzhou University and have since assigned the patents to Tianjin Haihui Longzhou Investments Co whom I can get no info on. There are several other similar applications that have failed and would be prior to SL. Plus a current application from Argentina also prior claim to SL.
Add that LIT is very light on with their patent application. They have basically done bench tests with research to follow. The resulting research has proven difficult giving low recovery rates. Add that the figures given that they could produce lithium carbonate were only target figures and seem unlikely now. Then add in the fact that they are using HF (F salt + sulphuric acid) even if it taken up immediately. However the immediate argument is a little moot as an excess of HF is require for efficient leach.
Then add that if all goes right from here it will be years away to get SL working commercially.
I think that LIT is staring down the face of reality.
LPD Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
(20min delay)