ASX Today, page-30902

100% correct. Why is the Wagner Group is hanging around in Mali? They're not there taking happy snaps. Their MO in CAR, Sudan and other African countries is to provide military services to governments in return for mineral resources they use to fund their operations. Russia is claimed to be smuggling huge quantities of gold out of Sudan; exporting billions of dollars worth of lithium out of Mali (with a GDP of only $19B) IMO is just not going to happen. Either the Mali government will want a bigger slice of the pie (by resource nationalisation like Zimbabwe and Namibia are doing, or "renegotiating" their 20% share), or Wagner/Russia will want it to fund operations in Ukraine (if it is still going), or insurgent groups will make it untenable to operate.

All IMO of course, none of this may happen and LLL may well end up being very successful. On the other hand, billions of dollars looks very attractive to a lot of competing (and corrupt) interests in a poor country. Each to their own risk. Personally I wouldn't touch LLL with a ten foot pole, attached to another ten foot pole. Wearing gloves.