The project Leo had a significant share of is being bought out....

The project Leo had a significant share of is being bought out. It remains to be seen what happens to the Corporate structure/cash.

The four obvious options are:

• The whole company is wound down, the 20 year royalty sold, any remaining assets liquidated and cash distributed back to shareholders
• LLL uses the cash to buy lithium projects outright, do JV's on lithium projects or otherwise reinvest back into more advanced lithium projects
• LLL uses the cash to acquire prospective tenements and goes back to being an early stage explorer (with a huge pile of cash!!)
• LLL looks to go back to exploring/producing other metals

Only under the first of these do they not need a CEO. While many retail LLL shareholders may be interested in this liquidate option, I'd guess management will suggest buying some asset somewhere. Some of the top candidates would be a cash offer to two project entities that need the cash to develop/progress their other project for instance SYA (NAL/Moblan), PLL (Carolina/Tennessee), GL1 (Marble Bar/Manna), Delta (Mt Ida/Yinnetharra) or any number of other similar situations.

Its only in remote possibility scenarios that any of that LLL cash would find its way into Core bank accounts.