Yes its huge, one of the reason behind is they are set to...

Yes its huge, one of the reason behind is they are set to commence production in 2024. It appears to be a Done Deal now, as the LTR management has requested shareholders to approve it.

Industry wise few other developments are:

• Canada based E3 Lithium has successfully transitioned from energy to lithium and has initiated a pilot DLE plant. E3 has announced lithium resource of 16.0 million tonnes LCE with a concentration of 79 mg/L. The stock is trading at a new high with marketcap of $250 million and $1.2 billion NPV.
• Also, major players in the industry have encountered blow-out in CAPEX. Wesfarmers and SQM are set to commence production in 2025, but project costs risen to $2.8 billion. Similarly, Mineral Resources is expected to see an increase in CAPEX to $2.8 billion.
• Based on industry wide numbers, It appears that the Phoenix's CAPEX may range between $2.5 billion to $3 billion for 60,000 tpa capacity.
• During a podcast on RKEquities, one of the CEOs remarked that securing $1.5 billion in funding for a lithium project isn't considered substantial.

https://finance.yahoo.com/news/standard-lithium-announces-positive-preliminary-100000963.html