@EDTD made a useful point in the post 72261572. The presentation...

@EDTD made a useful point in the post 72261572. The presentation summarises the information in the 2023Q4 Report.

On Slide 14:


If a strategic partner prospect is a corporate, given that KEZAD is a state owned enterprise, then consent from UAE state organisations (eg Abu Dhabi Ports) is critical to success. The corporate will need to be domiciled in a country with good international relations with UAE.
The second part of the highlighted point suggests that DFC and perhaps other DFIs, remain in play.

Investors will also note that more than one Terms Sheet is likely signed, given the need to prioritise them. The executed Supply Agreement will be the definitive commitment to sell and buy beneficiated ore, so any of the prioritised second parties may still become the successful purchaser.
As a single source supplier of lepidolite with multiple bidders, LPD is in the dominant position in negotiations.