ann out: adjournement of agm, page-20

Hi invertedva, I think there is a very bright future for lithium. Read what I wrote here. I did the research and those are the numbers I came up with based on 2kg/kWh. Consequently, it is only possible to replace a small portion of oil consumption with power from EV lithium batteries due to resource limitations. IMO, the game changer will happen when Korea markets its one minute rechargeable EV battery. See here. So things will improve when EVs sales pick up.

Perhaps the real reason why they are not doing a placement with instos is because of the asx restrictions. Under listing rule 7.1 they are not allowed to raise more than 15% of the market cap within any 12mth period and at no more than 25% discount. The ramp down to 23c has killed that. Non-renounceable rights issues are different. But there nothing stopping instos (and the sharks) from snapping up the shares when trading commences.

The rights issue announcement and the AGM presentation still value the assets at $166,228,079 after the debt is paid off. If not many 8c rights are issued 8c is dirt cheap. I still reckon a takeover is on the cards.

Page 11 AGM presentation...

Jiangsu plant estimated replacement value of >$150m

Sal De Vida purchased for circa $100m with the recent independent DFS highlighting a project NPV of $US380m

Mt Cattlin and James Bay projects current balance sheet carrying value of >$50m