Hi Lodgy have another look at your post above: "a concessionary...

Hi Lodgy have another look at your post above: "a concessionary royalty rate of 1.5% of gross revenue from all chemical conversion plant products and geographic exclusivity over the St Austell granite."

Usually, royalties are at least for 10%pa (on the terms of the contract; be it, revenue, gross t/o, output (as in some WA iron ore projects) or other criteria. So what we are foregoing is at least 8.5% (of gross revenue from all chemical conversion plant products).

And, by assumption, you must be expecting the price of LPD in 2yrs time is going to at least 1.6c, or north of that, given that you think that there is going to be a dilution of the SOI. Alternatively, if it fails to reach 1.6c Cornish Lithium will allow the 100m options to expire - no dilution therefore will occur, a rise in SP will be well received methinks. I believe a lot of investors in LPD would be happy with North of 1.6c. Some on HC, in recent months have been setting the price of LPD at 0.005 and sub 0.005. A couple in particular whom will remain unmentioned.

I think this is a better outcome than having to carry $5mill plus debt with interest payable and currently no income being generated to cover the obligation. And it's better than $5mill plus capital raise. Don't you think?