What is LCK' value?, page-94

The PPL ann was massive, but the market didn’t seem to care. I think it was a combination of marketing by the company (or lack thereof) and the enormous capital required for the project, providing uncertainty.

The Daelim deal was a big deal ….however, it was massively oversold by the MD and the company. Folks were expecting a binding agreement, figures etc …. Not a letter of intent.


Now the BFS and ultimately the securing of offtakes etc are more of an absolute (though obviously the numbers will matter). …. so if they stick with those timelines in the recent preso, 2022 should be a year where the company receives a substantial re-rate.

JL is right about the need to raise capital in the near term … I believe that they’d need to raise working capital no later than Q1 2022 …So the questions are :

-Aside from the BFS, what else will be announced in the next 3 or so months, that could either boost the SP so we’re not diluting at these levels ?

- How much are they going to raise ?…. Just enough working capital to cover them until Sep Quarter ? Or something more meaningful ?


A couple of things …. Post BFS, raising at these levels is unacceptable and would be an absolute failure by management.

They’ve been in talks for well over a year, they should have their ducks lined up and ready to go once the BFS drops.
Covid and travel restrictions are no longer a reasonable excuse… the world AND the company have had well over a year to adapt ….there are things like ZOOM, that are more than sufficient.

They opted to prematurely give themselves performance “options” … it’s now well overdue for management to start providing shareholder value.

Expecting big things starting December.

All IMO etc etc DYOR


Cheyne