Patent timing, page-2

Licence it to who???

There has been so much destruction of value in the Australian SOP space in the last 3 years, IMO no bank (or NAIF) will fund untried and unproven technology no matter how good RWD think it is.

To my mind, the only way this technology play will work is if RWD prove it up on their own deposit. Even if AMN, APC or TMG thought it had potential, there is no way they will get their projects off the ground with new technology. I'm not even convinced there is that much money in the process IP - KLL only paid K-Utec $30m for the IP and the supply of the physical plant equipment. Unless you can negotiate a royalty in perpetuity based on every tonne produced, it seems a bit pointless.

The SOP market is not that big (2 - 2.5million tonnes pa in the Western World excluding the captive Chinese market) and IMO RWD have the potential to make a lot more money from their deposit by not assisting competitors who will only drive down prices with their additional supply into a very small market.

On this basis, I can't see any major royalty income for at least 5 years.