Ann: Desert Lion Merger and Entitlements Issue, page-129

The date of this intrigues me April 2019.

Desert Lion had been on the market for some time (sorry undergoing a "strategic review")and LPD due diligence would have completed and they would be in advanced final negotiations being "price".

For BASF to sign such an MOU LPD must have been involved and I would venture to say the LPD trials on the DLI ore produced the Lithium Hydroxide that led to the BASF MOU.

In addition the DLI ore is LCT which means it is high in Caesium which SM would have also produced this as they were testing the by-product circuit under different commercial arrangements

LPD would have fully tested the LCT ore under their amenability due diligence - Lithium Hydroxide, Caesium Brine and Tantalum.

Gulf Fluor, UAE, BASF and LPD getting "Development Ready" - I sense more of this story to emerge by the time the final off-take agreement is executed with BASF at Christmas