" During the development of the project, Sawtooth will provide Lithium Nevada $3.5 million in cash to assist in project development and provide certain engineering services related primarily to mine design and permitting.  Under the terms of the mining agreement, Lithium Nevada will pay Sawtooth a success fee upon achievement of certain engineering, construction and production milestones. 

After Lithium Nevada secures required permits and financing for the project, Sawtooth intends to invest up to $50 million on the initial fleet of mining equipment. 

Lithium Nevada will reimburse Sawtooth's equipment investment over a seven-year period from the equipment acquisition date.  Lithium Nevada estimates that it will secure all major permits by the end of 2020, commence plant construction in 2021 and commence production of lithium products in 2023."

The boldface type and new paragraph construction was added by me for emphasis.  So, Sawtooth should be getting close to losening up their check book "After Lithium Nevada secures required permits and financing for the project".  There are 3 elements to that conditional statement:  First:  Lithium Nevada has to secure all the required permits.  They are still working on the water permits so we are close, but no cigar on that element just yet.   Second: Securing the "financing for the project".  I suspect we will see financing for the project sometime during 2021, hopefully not too far along and probably after both the water permits are achieved and the DFS is published.  Third:  Raining money for neede mining equipment.

  No surprise about the two relevent steps that have to occur before we can get Sawtooth Mining to invest up to $50 Million Dollars on the mining equipment.  Not much sense for Sawtooth and their bosses at North American Coal Corporation to pony up as much as $5O Million Dollars if they don't first have the conditions met that stipulate all permits must be achieved and that LAC must have "secured" financing for Thacker Pass.

NACCO Industries, Inc. Announces Execution Of Agreement To Become Exclusive Contract Miner For The Thacker Pass Lithium Mine In Nevada (prnewswire.com)