I think the deal is good actually... The main game for LTR is...

I think the deal is  good actually...

The main game for LTR is Kathleen Valley (awaiting Indigenous deal/agreement)... KV is a partially proven high grade Lithium in Spod resource much better than anything CXO have IMHO. KV will be the main focus of LTR and a company maker in its own rights .  LTR's Bynoe ground has had some good'ish hits but nothing as good as KV. LTR's Bynoe prospect on its own would need a lot more exploration $$ invested before you could say its a feasible project if in fact LTR ever defined an economic resource there.  

So mgmt. thinking is sell it to neighbour and main player in the region and in return get some much needed cash and more importantly  and 8.2% holding in CXO share capital and hence exposure to all of CXO's ground and  exposure to the likely CXO DSO operation...  

So its a win/win for CXO and LTR... LTR are released from a potential uneconomic prospect (due smaller to size/grade) for a decent share in a likely economic one. CXO get to increase their footprint and increase the size of their lithium prospects making it more likely to be economic.

So this leaves LTR unencumbered and much like a sleeping beauty IMO ... a "kiss" in the form of a agreement on access rights with indigenous group in the area for full access to KV  then this beauty will awake and I suspect will take off...

Lithium is getting increasingly more scarce and hence more valuable around the world ... and will continue to be for at least the next 10 years perhaps even  a generation or more.