Ann: Kathleen Valley Funding Package, page-399

I would like to welcome all the Johnny-come-lately posters that have contributed to the LTR threads in recent times telling us what a mistake it was not to sell out at $3 when we had the chance. Of course many of the LTH made some prudent sales to have some dry powder for days like today so that they could top up at bargain prices.

Here at LTR we are used to hearing advice that we should sell out and that our company doesn't really have the goods. There was Pongo Sniffa about 4 years ago who was an holder and avid up-ramper until he sold out at about 5 cents and then annoyed us with negativity until we mostly placed him on ignore. Then there was the prolific Bunn-Whackett who appeared about the same time, maybe when the share price was about 10 cents and has been warning us ever since that the sky was about to fall in. Hmmm let me see, from 10 cents to today's close of $1.90. That's embarrassing.

Then when we started making some serious discoveries there was the nuisance poster that insisted that management weren't giving figures on the iron content of our spod and that it was worthless. Of course management weren't going to comment on something that didn't exist. After that there was the constant sniping from the AVZ crowd. LTR must have been valued at about 30-40 cents by then, and we were told that our deposit wasn't worth developing. That criticism went on for a year or more. How's AVZ going at the moment? World's biggest deposit of lithium!!! Then we were told our deposit was too deep, all that overburden would make the mine uneconomic. I guess no-one had heard of underground mining. Actually Australians have been doing it for over 100 years. Then there was the criticism of our FID and the assumed price of spodumene used in the calculations. Oh, it was far too high they said, we would never achieve sales at that price, Well, history has a different story to tell.

Which brings us to today and the loud chorus of voices telling us "I told you so". And yes, you did. But we were hearing "I told you so" when the sp was 5 cents and again at 10 cents, then again at 50 cents...well, you get the idea. The reality is that at Liontown we are just slow learners. But keep telling us because just maybe, when the share price hits $4 or $5 we might just take notice and sell. Then again, we might just sit back and collect our dividends.