Ann: Desert Lion Merger and Entitlements Issue, page-155

Yeah you're right Roberto, Had to be in the works long before that MOU was signed with BASF. Who have the exclusive rights to licence a bunch of metallurgical processes. You can clearly see their angle here and I like it..

@homeales I couldn't agree with your post more. I'm of the same opinion. Getting my head around it all and I'm a fan. Obviously with current market conditions they've had to take additional steps to de risk, pushed the timeline right a little. But not a bad thing, not hard to see what's happened here...

Mr. DeepPockets - "Hey Platypus, we like what you're doing here. But we have a few concerns"

1. Scaling. Looks good on the bench but we'd like to see it work at pilot scale. - "No sweat, we can do that"

2. Lithium Carbonate is good but market seems to be shifting to Hydroxide. - "Also no sweat, we'll work our magic there"

3. Surety of supply. - "Well we've got this good thing going in Portugal. But it wouldn't hurt to have additional supply with even greater control and really vertically integrate. Let's go buy (I mean merge) while the market is depressed"

4. Silicate byproduct. This is really important to your project economics. How are you going to monetise this?
- "Well it works great as an additive to cement. Joe how about when you were in UAE, construction is off the charts over there?" "That's true, actually I know this chemical manufacturer that has a Sulphuric Acid plant, spare land on site, cheap inputs, lime supply across the road, fast track permitting process, Gulf Flour client base. Let's look into that one team!"

5. What about your girlfriend Galaxy? "Well she needs to open her wallet to nail down this bachelor. But I can handle some side action and keep her happy with Sudbury"

The more I look into it all, the more I like it. Can't wait to see the revised economics for P1. Some serious cost reductions have just taken place. The DLI acquisition will pay for itself in two years at nameplate.

Sure it's REALLY disappointing not to get our hands on that DFS just yet. But what's another few months if there is a material cost reduction and de risking to compensate our patience?