Ann: Lepidico Update, page-74

As a rule I do not reply to posters spreading misinformation but @Bullrush007 you do have a valid question. Here is the snippet for you from the latest quarterly, the first two points indicate the sequential development method is now the main priority for LPD and as such we need an equity partner at the Namibian level.

The second dot point is talking about Namibia and referring to securing an equity partner for Namibia.

It seems in this deflated Lithium market the sequential development method is the most economical. Now the Karibib mine will be developed selling concentrate to a third-party converter in order to get us to positive cashflow ASAP, DFC (like any lender) would require LPD to provide some equity, since we are looking at just developing the Karibib mine the equity will now need to be at the Karibib level and not the previously planned Abu Dhabi level.

@Bullrush007 This latest announcement is not a pivot, the pivot occurred when the company began looking into the sequencial development case in order to get cash flow positive ASAP rather than the fully integrated development. With the fully integrated phase-1 project we were bogged down at the Abu Dhabi funding gate. If we obtained Abu Dhabi funding sooner there would be no need to seek equity at the Namibian level. IMO