Ann: Lepidico confirms L-Max IP Rights Secure, page-61

Key date I used was :
"Option was initiated in November 2014"
+5y gets me to November 2019.

You might be right, but regardless, I think the key thing is the plant must be built by then and if we work backwards from either date:
-1y for building plant
-1y for engineering
-3mon for capital raising
-6mon for DFS
-3mon for capital raising
-3mon for PFS
-6mon for testwork and piloting
If you add that all together, LIT needed to start a project by Q1 or Q3 2016. They havent even drilled anything. So I would say it is impossible unless they take a short cut (like a T/O?).