The Hoops had an offer for the 23-year old striker rejected by Wolves on Monday but Lennon insists the Glasgow giants are sure to return to the English League One outfit with a new proposal.
"We have made our intentions clear and the talks will keep going now for however length of time it takes to get a resolution one way or another," he said.
Lennon added: "He had a fantastic season last year. I think he has improved as a player and there is scope for him to get better.
"It's not just his goals: he can see a pass; his movement is very, very good; he has got physically stronger; he has got pace about him as well.
"He has broken into the Scotland squad. He knows the environment and I think he would improve here with the players around him."
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