A takeover is incredibly unlikely, unless it is from MIN and as a mutual sale agreement - the lithium JV partner - because of the Norseman Group structure. 50% is owned by TUL and 50% by PNR. Someone would need to take over both companies to get majority voting rights to the lithium tenements. Further, there's no chance that MIN will let LTR buy the Buldania prospects from under them. MIN will own 65% of the project if they find lithium and fund it to production.
Regarding LRV, while they have the southern extension of the Kirkman Formation south of the Jimberlana Dyke, the prospective areas which could host pegmatites is at most 3km x 4km. Pegmatites don't exist further south into the Albany-Fraser Orogen.
Tenements M63/182 and and E63/1919 also are owned by TUL/PNR.
