Hey there @FlashFish, I understand your confusion. LIT's modus...

Hey there @FlashFish,

I understand your confusion. LIT's modus operandi is to sew seeds of confusion with smoke and mirrors. The wordsmith himself walks a fine line between open disclosure and flat out lies with most announcements being able to be interpreted multiple ways. A deliberate ploy, and one eaten up by the unknowing punter that simply likes a company with the word Lithium in its name -Arguably AG's only master stroke.

From Announcement 11th November 2014
https://lithium-au.com/wp-content/u...ing-Breakthrough-Delivers-25-Year-Option1.pdf
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Terms of Agreement
Under the agreements announced today, the licences will provide Cobre exclusivity within Western Australia for up to 25 years and exclusivity at two other locations anywhere in the world.
“The exclusive nature of the licences provides Cobre with an unprecedented advantage over competitors by providing, through Cobre, the only practical means of accessing the technology so that Cobre will be the key to implementing lithium projects based on mica plant feed,” Mr Griffin said. Under the terms, Cobre Montana will have:

• Option will be free for 6 months
• Two subsequent option extensions of 6 months by payment of $5,000
• Option exercise $100,000
• A requirement to continue testing with Strategic Metallurgy
• Gross product royalty 2%
• Licence exclusivity extending 5 years from exercise
• Exclusivity extended another 20 years if a plant is commissioned in WA during the initial 5 year exclusivity period
• Two further licence options available anywhere in the world, with Cobre having the right to change nominations by agreement with Strategic.
  “We have been exceptionally pleased with the test results using this technology and the option provides us with the ability to lock in our position, with no additional outlay as further testing progresses,” Mr Griffin said.
  “Furthermore, the arrangement effectively gives Cobre Montana exclusive first rights to utilise the technology anywhere in the world and potentially have front running in WA for over 25 years.”

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The option for WA was exercised in July 2015. The other two options haven't and wont be exercised IMO. But now ask yourself, if this was all done prior to 2015 and nothing has happened since, what chance is there it will happen before 2020. Also note the plant must be "commissioned" which means a project is required yesterday - something LIT dont have.

Lastly, LIT is all Sileach and blue sky- in Malaysia no less, sighting cost benefits [sounds remarkably like an LPD strategy announced 6months prior] and @a $10,000/t lithium carbonate operating cost (twice the industry average).
https://lithium-au.com/wp-content/uploads/2017/07/1689440.pdf

But sure, LIT are focussed on Lmax and Lithium in WA...
#whateverhappenedto
#LITprocessinghub
#PLS-LIT-JV
#GoldfieldsLithiumAlliance
https://lithium-au.com/wp-content/uploads/2016/11/436qzfjkn2c8tb.pdf
https://lithium-au.com/wp-content/uploads/2016/11/436ymbz7sqnmk4.pdf

Then there is the ever moving project timeline, then again, these guys work on 63y cycles...

The only thing this announcement boosts is AG's coffers, but he sold LPD at less than half what it is worth today...

Hope this helps