I was assuming a maximum net dividend of $8K per annum if you...

I was assuming a maximum net dividend of $8K per annum if you hold 100K units (this can be over 2 payments in a FY or 1 payment in a FY) based on the current DSS; there's no guarantee the Company will pay this should it chose to at all.

I've previously shared it and have updated it since: LTR's Kathleen Valley FCF Analysis

The FCF analysis is based on the DSS because the Company is keen on downstream; I've extrapolated the After-Tax FCF to what it may be should spodumene price approx $5K/T (LHM price to reflect similar uplift). There's no doubt 29c DPS is achievable early on but I doubt the Company would want to stretched themselves too thin if they're going downstream - it is by no means a good indication of what the project could achieve in terms of FCF however as noted by TO in an article dated 13th of January; LTR is exploring possible alternative and/or improvements to the DSS; it is likely we may see a very different (hopefully massive improvement) study over the DSS.