Chris Reed on “The Evolution of Lithium”, page-13

Sorry guys, the video is date 15/May/2017. A lot has happened/changed since then.
I do not believe there wont be a divvy anytime soon and this is why they have continued the buy back instead.
According to the latest Euroz report, Mt Marion is expected to be cash flow positive from the 1st July if not before. So there will be no payments from before this date. I read somewhere back in February that Min, NMT, and Ganfeng were all paying towards the 6% upgrades. I can not find where I read it but that would suggest why Mt Marion is only coming into cash flow positive from the first July as to pay for the upgrades.
As for costs/profit per tonne, I read an article on lithium the other day and it stated that the cost for production of most WA lithium producers is believed to average around $US380/t indicating that they are enjoying a gross profit margin today of roughly $US460/t if selling at a 6% concentrate.
If Mt Marion is going to be producing 400000t at 6% per year then that would make $US184,000,000. This would value NMTs 13.8% share of profit at $US25,392,000 ($AU31,983,879) per year.
A 2c divvy per year costs $11m.