General Discussion, page-1074

It remains a bit of a perplexity why we have not obtained finance in Abu Dhabi, when our tech gets support financially through Cornish lithium.
I have remarked before that I thought that via debt due diligence potential lenders have found what they consider a flaw in our technology such they prefer to walk away, then I thought well Cornish lithium and their backers have obviously found no real fault.

Digging a little deeper into EMH and the Cinovec project we find that SMS group out of Germany are supplying the FEED and technology for the conversion of their hard rock mica to lithium chemical. The Cinovec project is supposed to be the biggest hard rock deposit in EU. The strategic metallurgy webstite mentions work with EMH, but it is not elaborated on and appears to be no longer in association with EMH.

PAM (Pan Asia metals) apparently have used conventional Chinese lepidolite extraction methods as well as Glencore technology as testing for extraction of lithium from lepidolite and have a MOU with VinES out of Vietnam to build a conversion plant near their existing battery plant in Vietnam. From memory there was some expectation that LPD would form an association with PAM but PAM has turned in a different direction as has EMH in Europe.

Considering the association of Cornish Lithium with LPD I wonder if it was driven by LPD desperation to get cash to pay out imminent debt hence a cheap price that tempted Cornish Lithium to incorporate LPD tech into their operation, also at that time the LPD tech may have seemed the only way to progress.
Other potential operators EMH and PAM have since found what they must consider a more satisfactory and long term prospect than LPD tech which has also been verified by potential lenders through their previous efforts of due diligence

Techmet one of the financiers for Cornish lithium has the DFC as a main source of funding. Considering we have been dealing with the DFC for around 4 years now, we just seem to be on this perpetual merry go round just trying to get a small amount of funds to initiate a cash flow, there just seems to be a never ending stream of reasons why finance is delayed. For instance we need to find a foreign entity that is not of concern to the US govt to form a strategic partnership with us regarding P1 construction before the DFC will lend money for the concentrator upgrade etc. this is even though they will not be directly involved in lending money to us for the P1 plant. However LPD wishes to beneficiate ore that is stockpiled and or mined to sell to Chinese Converters who they say they are in talks with now, even though they would be regarded by the DFC as foreign entities of Concern and the DFC would be directly involved in providing the finance for that project. It seems finance of any form is as far away as it always was.