ASX Today, page-10409

The truth always hurts. Watch Tony Ottaviano’s diggers and dealers presentation in Kalgoorlie. I don’t think he meant to hurt anyone’s feelings but…..anyway just listen, it’s on Ltr’s website.

I think most already know why LTR hasn’t done any deal or is not signing any Offtake or JV partner early in the journey.
-having too many offtakes is complicated and always less desirable, remember multi-offtakeholder PLS flagged to sell part of its Pilgangoora project 2 years ago but had received no takers? In contrast KDR was a more attractive target and taken in no time. More so Ltr now!!!

-signing a deal too early is selling your soul - Sample 1. Kdr sold 1/2 of mt Holland for a few coins to SQM, just over a year later it sold the rest for about twice the amount SQM paid. But still very cheap - if it kept the project all up just another 24 months and did absolutely nothing other than sit down and watch the wind, sun and surf, shareholders will be laughing with north of $7 billion instead of $1.2 billion all up. Sample #2- maybe a candidate among the stupidest - fyi signed a $80m finance facility aka insurance fee premium (not even half of its required Capex) by issuing options worth 20% its shares on issue. If it took the facility up, it’s still required to either issue shares or borrow the money plus interest; 18 months later, it signed a deal with Alcoa giving away 65% of the project, leaving 35% dry bones hopefully with some marrow to poor loyal shareholders and the tragedy isn’t finished imo.

LTR shareholders will avoid all the tragedies these peers have had. The only tragedy Ltr holders will have is this by Bee Gees. Cheers