Ann: DRILLING SUCCESS AT PERSEVERANCE PROSPECT KINGS LANDING AREA, page-20

That's exactly what I was saying in the past.

CXO is not big enough to take over LPM. Even if we, retail investors wanted CXO's TO, we would never get past the majority which is Bin (43%)+CATL+other directors.

More so, LPM has CATL from day 1 with long term relationship. Direct engagement, agreement would've happened between Bin and CATL even before IPO.

That's why, Simon has clearly said that in Noosa conference that CATL will inject, support LPM to get into production.

Probably a bit of politics involved. CATL wanted to make sure they'll have all or most of Bynoe's production once it starts. To achieve, they need to keep injecting $ in LPM to get the ball rolling.

What likely to happen is - MRE would shortly be followed by CATL's offtake, CR in Jan/Feb (for CY24 drilling campaign and cash flow) again, injected by CATL.

For us, retail traders - it'd be much better and safer if CATL taking more control of LPM because they'd (most likely) be the ones taking us into production. CATL wouldn't be dumping their shares like most others, shitty insto for smaller profits.

Oh one more thing, interestingly - Simon did mention about CXO's $2b peak value in Noosa conference.

Probably, $2b is MC target the company is looking at when they get to similar stage, who knows. That's about 47x from here just saying.

In reality, LPM has the best chance among ASX Li explorer into production.

Let's just hold it tight. $42 MC currently is nothing. Probably once in our lifetime chance.