ASX Today, page-25420

Some folk here were waiting for a KV upgrade and could be left disappointed. While an upgrade would definitely helped to push the SP short term. In the long run it would not have mattered as it would have only extended LOM. In the outer years with additional trains it might have increased revenues but not this decade. So what is the impetus to move our share price as we get closer to production? Well the closer we get to production the more we move up to a MC of $15b+ as we see that with our peers. But for me other things are brewing. Since the DFS the world has rapidly changed and our BOD is well aware of this too. Governments are more and more keen to keep control over the rare earth minerals of which Lithium is now one, and process as much as possible in the own country, Australia is no different. We have 3 big offtakes and these companies are financially well resourced. While they are building battery plants the missing link of conversion plants is missing and this is still stuck in China. Anything happens over there ( thinking Taiwan ) the whole EV show will stop in it tracks. This is way too risky given the billions that are invested globally. This brings me back all the time to the point that a conversion plant will be build near KV. While the BOD acknowledges this, and intend to build this with their own capital a number of years after spod is hitting the market, I cant see that the BEOT, WA/Fed Government, offtake partners are willing to wait that long. I expect offers of JV to be tabled in 2023 to hasten this process. This will be a massive stimulus to our SP. I also note that DR of Mi6 walked away from that site he wanted to purchase, but this site also had LIT. He is the one that discovered BUL and KV and LTR BOD could well be talking to him that when he snoopes around with his shovel that any LIT resource is bundled into LTR. Expect something left hook there too soon. While our BOD takes a conservative and LT approach, they are very entrepreneurial, remember that LTR was even looking around offshore before KV.