Confirms the massive disconnect between the public market (short...

Confirms the massive disconnect between the public market (short term horizon) versus industry insiders and strategics who choose to look through short term towards the medium/long term imperative. In this case LG are following through to protect their own offtake position and secure more product, at relatively low cost to LTR. The lithium cycle will ultimately turn up, again, for the 4th price cycle.

LG also step into the shoes of the banks who likely had difficult conditions precedent in place for bank debt drawdown, and now hold security over all LTR's assets. LTR will need to perform including commissioning and ramp. Board and management have effectively said there is nothing to see here on development and reiterating that first production by end July. Lets see, not long to wait.