Ann: LOI with BASF extended to 31 December 2020, page-185

I seriously doubt that.

A licencing agreement for LMax between LPD & LRS was signed & released to the market & hailed as a game changer by shareholders at the time. It's been swept under the carpet as far as I'm aware, I don't see any market releases by either company since it was signed almost 4 years ago.

Patents last anywhere between 8 to 20 years.

LMax was patented 1 or 2 years ago?

Plus the time to finance, construct & run the plant to full specifications, say another 2 years from now just for P1.

It will be a few more years after that until a full scale P2 is running.

So that's 5 - 7 years out of your 20 year patent protection gone.

Why would any global conglomerate pay a tiny little small cap miner in Australia hundreds of millions in royalties when they can just....

A. Buy the patent from the owners right out from under the shareholders feet, everyone has a price.
B. Wait 13 years for the patent to run out & prepare in advance billions in financing to build their own LMax plants.
C. LMax isn't the holy grail, despite what shareholders say, there's lots of chemical engineers out there that could invent another chemical process to surpass LMax.

LPD's time is very limited.