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50.5¢ leo lithium limited

Ann: US$65m for 5% sale of Goulamina and Continued Suspension, page-100

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207

19/01/24

23:17

Post #: 71973388
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Originally posted by JSB007: ↑

What makes this so sad is that we're not actually gaining anything from this transaction other than preventing Leo from losing everything. Give 5% to Ganfeng, receive US$65mil from Ganfeng, and then hand that over to Mali, just so we get to keep 40% (for now).

I assume the settlement amount to Mali is going to be US$65mil or more because as per the quarterly, Leo will have AUD$60mil + in the bank this quarter, so if the settlement was only going to be a few $ million, Leo wouldn't have needed a way to raise US$65mil.

To bring this to an amusing conclusion, as others have noted already, it would be funny if Mali use the US$65mil + (I assume) we will be giving them to help buy their 10% stake, which will go back into the JV which is 60% owned by Ganfeng (which is where the US$65mil money came from)......

I hope we don't find ourselves not actually fully funded in the coming weeks/months and therefore either having to sell another 5% or capital raise at whatever crashed price we'll be at (I'm expecting 10 cents).....

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100 million market cap for 40% interest in the 5th largest hard rock mine in the world snd 60% built surely not, you have companies with similar MC and they've hardly put a drill stick in the ground.

LLL Price at posting: 50.5¢ Sentiment: Hold Disclosure: Held
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