Ann: Japanese Consortium Update on Progress on KNP Goongarrie Hub, page-12

We live in an increasingly desperate world of seeking long term supply in critical/strategic mineral resources and putting into play the many Western legal means of securing them for massive corporate profit.

What has happened at LTR might be occuring to ARL behind the scenes that even the ARL board is unaware of.
Much like the LTR board is unaware of Gina's, SQM's, Livent's and Chris Ellison's behind the scenes moves that affect LTR.

There are some discussions on LTR's threads about Gina's agenda. After taking up 19.9% LTR's shares she did not seek board representation.
Some have postulated that the strict ASIC regulations on board representation, combined with the 20% shareholdings threshold, is unsuitable to Gina's agenda in a corporate takeover attempt.
She would want more freedom to pace and launch her moves without the ASIC restrictions. Hence the lack of disclosure by Gina about her intentions regarding LTR.

I'm open to the idea that a parallel ASIC regulation is in place for financiers that are involved in funding the capex of mining companies. These financiers are prohibited from being actively involved in corporate takeovers of mining companies they have funded.
Even for Mitsui, a $3 Billion capex is not an insignificant sum of financing to earn fees and interest. Yet they withdrew. Is it far more lucrative and time-saving to take over, cannibalise and sell piecemeal the parts to other interested miners?
That sort of predatory takeover has happened to Australian companies several times. For example, Qantas was once the target in an $11 Billion takever bid by a consortium of financiers, if I recall correctly. The govt had to step in to stop that.

How much is ARL worth on just the Goongarie Ni reserves, as per the DFS? $7 Billion, pre-tax?
How much is the other 50% of Ni in the as yet unconverted resources of Goongarie?
And the almost similar amount of Ni resources ex-Goongarie Hub?

Time will tell...
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Below is a scene from the West Wing TV series that is even more relevant now that other countries have jumped onto the American-style bandwagon.
The nuances in the gripping dialogue reveals the brutal truth.

CJ (in a righteous tone):
"We are trying to address a humanitarian issue..."

Chinese Ambassador:
"You have always taught us that... life, liberty and the pursuit of happiness cannot be crushed by greed."
"Your American Dream is financial, not ethical."

CJ (in some desparation):
"This is a good deal for the Chinese. I hope you will consider it carefully."

Chinese Ambassador:
"Of course."
"You have taught us well."