Ann: Sale of 28.6m Leo Lithium Shares - Cash Injection of $12.9m, page-109

Yep the appendix 5B would have been a problem come October release of the Sept Quarter numbers.

The suspension buys a bit of time, if allow the SP NOT to be crucified too much further “if” negotiating further finance.

Obvious focus is going to be to strategically mine the known better grade areas.

The Sept 21 qtr they produced just over 12k oz and total cash outflow of $16m, so if they can get near the 8-9k oz target per month it should stem the cash out flow.

Management has been a complete disaster for sure, and I’m not keen on AC at LLL if I’m honest. Most company execs are not as clever as they would like you to think.

However the shit hitting the fan at the company has coincided with likely the worse macro environment since the GFC from a Monetary perspective.

Thank god we did not take on any debt and have this occur as that would have been a complete disaster.

The company has a lot of problems but they need a very tight, focussed spending regime for the next 6 - 12 months. Priority is to save the company at this stage.

They have around $50m on hand now. Plus LLL as potential collateral, and likely a CR. The last 5 qtr they have net cash out flow totals around $146m, but have done alot on the ground.

New LOM and Resource upgrade likely to come before trading in my view, plus an indication of a few weeks focussed mining what numbers they are getting on production.

IMO

DYOR

GLTAH