With LIT pushing a competing technology albeit with only 2 days...

With LIT pushing a competing technology albeit with only 2 days of pilot testing and having to pay a 2% royalty for selling of Lmax then I would conclude the value to LIT of LMax is zero. They are highly unlikely to sell as an agent for LPD and the EMH debacle for LIT is evidence there is no appetite for JV. The important thing LIT got resolved was Sileach is not based on Lmax and hence do not have to pay the 2% Royalty. They can have the licences not sure they want them and if they did use them not sure they would jump the queue of LPD other clients in accessing propritary expertise learnt from continual work on the technology. Yep heres the flow sheet now you fill in any gaps in knowledge.

With Sileach able to extract a 2% Royalty LIT will continue with their Business Model of bundling a Sileach licence with either new IPOs or spin off of their own assets with equity positions in the companies in addition to their 2% Royalty.

Notice Lam no longer features in LIT presentations and the DFS from LPD makes the WA Licence interesting but essentially uncompetitive - LPD focused on the economics of LOCATION for the TECHNOLOGY not location of the ore.

Now competition is good for LPD gets them moving faster and my guess Sileach is about 3 years behind they have just got briefly (2 days) of proof of concept ! A long way to go.

To my mind LIT can process any kind of lithium what is vitally important (like Galaxy) is who starts selling Lithium Carbonate/Hydroxide FIRST. i.e. in a DCF model which yeardo you have LIT getting cash flows from sales. 2, 5, 10 years