I don't see LRS as a production play. It's what I call a 'Lipe'...

I don't see LRS as a production play. It's what I call a 'Lipe' play with potential for money to be made on Li hype. So although I disagree with you on the 2-3 year time horizon to redress the impending Li supply-demand imbalance as I think we're seeing a paradigm shift away from fossil fuels to Li ion batteries which will take substantially longer than that to resolve I'm not convinced applying such a long investment time frame is a good idea with this stock.

Also, an 'unannounced ore reserve' is not really something you should be concerned about. Since an Ore Reserve is the economically mineable part of a Mineral Resource, a 'small lithium player' will have spent plenty of time and money (with lots of announcements) defining at least an Indicated Resource prior to declaring an Ore Reserve, so you should already have a reasonable idea what to expect.