Ann: Corporate Presentation, page-18

Unfortunately for some Fund Managers and Institutions Lindian does not met their investment criteria. It appears that we may need to wait until our MC improves, funding arrives or production commences in order to gain new prominent supporters.

When I made an enquiry to a well known Institution their reply was......


"Thank you for your query...Basically in our current economic environment we are highly focused capital risk, both Geopolitical and financial.

Our methodology is a rules-based system that we have designed for maximum stability and liquidity positions at its forefront. You can find this information on our index construction web site "xxxxxx" under Rare Earths & Critical Materials Index, then click on the Methodology quick link on the righthand side of the page.

The two major areas that don't fit our rules-based system are:

1. We require a minimum market capital of $250m USD....Lindian's is currently $184m.
2. Lindian's Current ratio is 0.48...we require at least 1-3 ...this is a liquidity ratio, it’s not the only financial ratios we use."

I am waiting for an update as to whether the recent Feasibility Study may have offered alternate views.

Lets hope that many Fund Managers/Institutions look beyond the above criteria and focus of on profitability and timing.