Does anyone use LMax?

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Fishtaco

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14/07/17

16:11

Post #: 25873104
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Originally posted by TheRocketeer ↑

Hi @rokkett, in order for LIT to maintain rights over LMax licences in WA and 2 x international, there are requirements such as continuation of testing with Strategic Metallurgy etc.

Terms of Agreement
Under the agreements announced today, the licences will provide Cobre exclusivity within Western Australia for up to 25 years and exclusivity at two other locations anywhere in the world.
“The exclusive nature of the licences provides Cobre with an unprecedented advantage over competitors by providing, through Cobre, the only practical means of accessing the technology so that Cobre will be the key to implementing lithium projects based on mica plant feed,” Mr Griffin said. Under the terms, Cobre Montana will have:
• Option will be free for 6 months
• Two subsequent option extensions of 6 months by payment of $5,000
• Option exercise $100,000
• A requirement to continue testing with Strategic Metallurgy
• Gross product royalty 2%
• Licence exclusivity extending 5 years from exercise
• Exclusivity extended another 20 years if a plant is commissioned in WA during the initial 5 year exclusivity period
• Two further licence options available anywhere in the world, with Cobre having the right to change nominations by agreement with Strategic.

Based on the Sileach emphasis now, not to mention there is possibly a strained relationship with SM these days, do you think LIT will drop the rights? As someone close to LIT's progress, l'm interested in your opinion.

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Does anyone use LMax?

LIT Price at posting: 14.5¢ Sentiment: Buy Disclosure: Held
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