I don't think they can afford to make any firm promises at all...

I don't think they can afford to make any firm promises at all on selling the royalty. It's going to be hard to get upfront value on that due to unproven lithium plant, and Mali. Virtually impossible without a couple of years track record of producing revenue IMHO.

If that is left in an explorer with $20 million cash, the rest of the assets returned to shareholders, then I think that's a suitable outcome.
The royalty will either make a self funded explorer ongoing - not the worst thing to hold/sell, or they are able to sell a few years down the track and pay a special dividend then.

Would you buy an unproven lithium royalty based in Mali for more than 50 cents on the dollar at current market prices? I sure as hell wouldn't.