Ann: Anson Closes SPP and Secures $15m Equity Facility, page-121

I agree 100% @peppa .I dont post on HC much any more as its a waste of time with very little meaningful discussion and the ASN threads in particular lately are just full of nothings and bickering. Personally I think the calls for Bruce to be sacked are totally unjust. Yes the SPP timing was bad in hindsight but had the SP taken off and the CR only been given to sophs then holders would have been crying that its not fair we didnt get an SPP at the same price so really Bruce was damned whatever he did. My understanding is that he did the SPP as the brokers wanted an even bigger discount for a CR to sophs and by doing a SPP he was giving holders the ability to buy more shares at what was a discounted price. Personally I think Bruce is doing a good job, he is so passionate about this project when you talk to him and I know he has the drive and ability to see it through to commercialisation and the recent $15m equity facility shows that he can raise the $$$ when required as well. Its not just ASN's SP that has been under pressure either. All brine lithium companies have been hit hard since the start of this year and I have noticed a real divide between hard rock, which seem to be recovering some, and the brine companies which are still in down trends in general. IMO I think alot of that is down to the press this year really pushing the Australian based hard rock companies and also investors understanding hard rock better as they are traditional miners whereas brine lithium companies are less understood as they are in actual fact more like chemical companies and its the chemical process which has the real value. In that vain I agree with what Peppa said and IMO the biggest thing holding ASN back is actually Lilac's failure to date to produce BG LCE, which is outside of Bruce's control. We have heard for so long now that Lilac can produce BG LCE at a reasonable cost and very quickly without ponds but to date in reality they have only achieved a small amount of a lithium eluate which is not battery grade and certainly no costings from them either. Once they get BG (at least the 20kg's) then they also need to prove they can produce it consistently and at scale. Dont get me wrong I'm in this long term and I'm still very confident that ASN will achieve this and that the MC will be many multiples of the current rate but until the product is produced and proven at scale the market will continue to see it as being a higher risk project unfortunately.