"We don't need a partner, all the way through we're going to do this at 100%... we've kept this 100% and i don't think people understand, we're here to build a real company, we're here to build a Fortescue." said Tim Goyder in the
video presentation held on the 11th of November 2021 - I highly recommend all to re-listen to it from the 1:00 hour mark onwards.
Whether LTR will become the FMG of Lithium or not; it is as TG said -
Kathleen Valley will be a cash machine and do not require a partner if it chose to.One little
yet very important detail that many probably have missed is figure 9 on page 22 of the Updated Downstream Scoping Study showing the
Project's Net Cashflow After Tax; there are a couple of reasons why this is important:1. This is the earliest indication of how much dividends shareholders can expect every year from Kathleen Valley;
all up $32.37B over 23 years.2. This Net Cashflow After Tax has not only taken the required Stage 1 CAPEX into consideration
but as well as the the $1.5B Downstream CAPEX.
3. This was released before the $450m cap raise with the $40m SPP and $81m ~ $121m debt to follow for a total of $595m;
enough firepower to negate the 2022 and 2023 negative cashflow shown in figure 2 and certainly enough to deal with any potential unexpected issue.
4. Noticed the dip in Net FCF After Tax in 2027 and 2028?
This is when we can expect LTR to commence building LHM Train 1 and I expect LHM Train 2 and 3 to commence construction anytime between 2029 to 2032 for a 2033 operation (see image further below
So, how much dividends can we expect each year over the life of the project? Glad you asked; I did my best to prepare the following as informative and as accurate as I can - do not take this as financial advice as it is only my assumptionbased on what LTR has provided. 
A couple of notes on my assumptions;
1. An 8c per year in dividend from Year 2 to Year 6 is possible and a 70% payout from Year 7 onwards.
3. This will allow LTR to build a massive war-chest to fund say Buldania or any other explorative work.
4. SOI of 2,227.87 (All options fully exercised) and no further capital raise in the future for the next 23 years.
5. LTR to fund the downstream project with internal cashflow.
If you 100,000 units of LTR at an average cost of $1.65 could net you some very attractive returns... annually; definitely beat the banks.
What if you have those 100,000 units at say $2.50? Still looking pretty good to me especially once LHM Train 1 is in production at capacity.
And for those of us who have a million units (or over) at a significant lower entry price...
If this plays out accordingly to LTR's Updated Downstream Scoping Study even at -/+30% accuracy;
we have a BOD and the Team who we can place our trust in to make this happened -
TG has 300+m bits of paper to prove that he will make sure the team delivers. 
And as Charlie Munger puts it; 
IMO, LTR is definitely one of them.
(20min delay)