I expect this to be a sad ending for an atrocious West Perth style board and management team.
An asset that would have easily sold for $2+ only a few years ago, and here we are (maybe) about to get 28c in the dollar, if we are lucky.
Yes the lithium market has been smashed, but these guys took the cake: - Conflicted board using the companies raisings to fund other lithium explorers where they held directorships - T-Dog sitting on the board and doing capital raisings through his brokerage company - CAPEX commitment without having gone through FID process, and no project financing in place (or even underway) - For years, CFO was a mid level accountant trying to project finance the company, with no experience - The board and CEO with no experience in project financing - No advisory group engaged, for years - Group think around the lithium price and market - Trying to fund CAPEX off smashed equity and massively dilutionary ATM facility
JP can now go back to driving Ubers, or maybe buy himself a Guzman and Gomez franchise. Just stay away from the ASX please.
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