Hi OH2001,Welcome. You present as an intelligent, literate, and...

Hi OH2001,
Welcome. You present as an intelligent, literate, and articulate young man. Well done to you and your parents!
I can’t definitively answer your questions, but can perhaps give you the benefit of what I have learnt from my mistakes. All of course my opinion only.
1. The lithium market is severely depressed at the moment. Big banks and oil have a major impact on the world economy. EV’s and energy storage will have a significant influence on that impact over the next 10 to 15 years. The U.S.A. is the biggest producer and consumer (net negative) of oil. The Chinese are smart and want a bigger piece of the global action. They are also patient. Trump oscillates between half smart and complete lunatic, but understands the implication of the new energy/renewable argument and understands that they are not leading the charge and this will detrimentally affect their global economic position. Hence the trade impass with US/China. He wants to catch up.
2. Lithium is a chemical product, and China possesses most of the plants tp converts the stuff that comes out of the ground (either hard rock - LTR, or brine- South America, in the main). The impurities in the raw mate rial are critical to the efficient processing operation and thus a consistent feed stock is very important. They become inefficient having to fine tune their plant to different feedstock from different suppliers. Simplistically, mining lithium is just the start of a complex and involved process. If LTR can prove they have low, consistent impurities, it is a major plus to the value of the raw material. Our jurisdictional security is also important.
3. LTR has a major hard rock resource which I hope will go over 150 mt. Assay results for a few holes are just about due, but the expectation is that the results will be positive. The company expects a resource in the order of 100 - 125 mt.
4. There are many estimates of the value of LTR., and your return on investment (both in terms of value and timing) will ultimately be determined by the company’s decision whether to sell or develop, and market sentiment (relatively short to medium term) and the company’s fundamentals (which look fairly peachy at this point).I think your target sell price of 45 - 50 cents is reasonable within the next 12 - 18 months, but just be aware of the capital gains tax you will suffer if sold within 12 months of purchase.
5. I am retired and hold 1.8 m shares through my SMSF, so my opinion has a lot of self interest sprinkled with a bit of life experience, but I think you have made a reasonably sound choice. Good luck with your investment, and wish you well in general with your future.
i’m impressed!!
Pop I (aka Willy55)