Ann: Lycopodium to complete EPCM & Additional Capital Raised, page-22

Hi Stock12345,

My instinct is that this is required so SH must accept it. There might be more but it is what it is. Previous announcements about fully funded to DFS etc are minor gripes. They got close.

More cutting is the nature of this funding source. There might be some resentment toward mgmt as they draw down on the ATM facility. LPD is now in direct competition with its own loyal shareholders and option holders who participated in previous cap raises at higher price points.

For every tranche LPD draws from this facility for working capital purposes there is relief that these funds can keep the company afloat (a good thing) but a realization that loyal SH were suckered a few years back.

As usual there is a need to carefully understand what is happening in the background.

Overall we can be content that funds are available but also keep cool headed in our interpretation of company announcements.

Onward.

Go the slow ‘pus

A