Facts and Figures, page-57

gassed you say:
"just maintaining the trust against very heavy, and most often, unsubstantiated, opposition...."
However the other poster had referred to your "Buy" sentiment repeated all the way down from much higher levels. That wasn't "unsubstantiated" but appears to have been seen as "off-topic" in response to someone's complaint. The poster was a bit unlucky because your sentiments and the subsequent share price falls are, IMO, relevant to your current recommendations on the topic.

BTW, for some while my sentiment has been "None" because Buy/Sell/Hold are deliberate views but "None" from me signified the need for a critical piece of information that will fundamentally affect the company's value IMO. Until that dreadful financing facility has been retired I can't tell what Lake's future will be:

• The acreage says "Buy"
• The Lilac results suggest "Buy". Disruptive technology can create massive upside
• Environmental, political and legislative pressures about renewables suggest "Buy"
• The currently poor state of the lithium market says "Buy" - straw hats in winter etc.
• Low interest rates even suggest "Buy"
• BUT the terms of the dreadful facility say "Sell". It's been apparent to me for months that buyers would desert the stock when they realised that the facility could terribly damage the company with inevitable progressively worse dilution. However I didn't change to "Sell" because I hoped that the Board would not allow the train smash that we've now seen. No wonder I'm unhappy with their recent (non) performance!

I therefore said "Hold" because of a lack of assurance that the Board would do what was needed, all the while with my fingers crossed and prodding for change. I'm still unsure until we see appropriate action.

BTW, to your credit you rightly complained several times about the facility too, but IMO in over-focussing on positives that are not in issue at this time you might help management to get warm feelings instead of staying focussed on the difficult but crucial refinancing. That would not be good in the big picture.