It must be Groundhog Day, because LIT has been down this road before.
Below is from today's ann.
LIT & DLG (a Chinese company) once formed an LOI to assess the powders from the VSPC. Whatever happened with that partnership? DLG were issued 12.5 million shares which were eventually dumped.
So DLG, a company, in a country that's leading the way in LFP production was brought on board to test the VSPC powders from the Brisbane plant. If successful, DLG were looking to use these powders in their own batteries. You would think a country that needs as much cathode powder as it could get its hands on would be scrambling for any new sources of battery chemicals to maintain its market share. But they've bailed? The Chinese should know a thing or two about batteries!
Now LIT wants to bring on JV partners to commercialise VSPC.
Today's ann.
To me, today's ann tells me DLG has well end truly left the building. LIT already had a technology alliance with DLG & there's been nothing but crickets for almost 4 years. IMO, this "study" should have been undertaken by DLG in the technology alliance. Perhaps it was & they didn't like what they saw?
There goes Soluna as well, I guess, but predicted by @sqe & @rayien.
LIT Price at posting:
4.5¢ Sentiment: None Disclosure: Not Held
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