I would have to agree re the April 30 time constraint.
In the Gum Flat update they stated:
"In conjunction with this contract, LML is negotiating with several interested parties, including Chinese steel and iron ore mining companies, to provide finance through potential investment and offtake agreements for the project."
You would presume by "investment" they mean a placement to the Chinese as well as the offtake agreement, and this needs to be completed by April 30.
In order to do this placement, they will need to have an EGM unless it's under 10% which would equate to around 57c a share before expenses. Not sure what the rules are, but most EGMs are scheduled at least a month from announcement, so they'll need to announce something soon.
It will be interesting to see what price such a placement would be at. Certainly a premium to the current sp.
LML Price at posting:
34.5¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)