Ann: LWP Shareholder Update-LWP.AX, page-6

Main points:

#1.
"Further, LWP is also pleased to report that all of the unmarketable shares sold via the facility were taken up bya single shareholder, and without the need to sell these shares on market.Payment to shareholders who elected to sell their unmarketable parcels of shares will be made in the next 14 days."

I seem to recall a few 'sky is falling' red hearts (and associates) claiming that the share price might fall to $0.003 or $0.004 on the sale of these shares.

Damn, they weren't wrong again were they??!!
Sigh.

#2.
"As  a  part  of  this  ongoing  cost  reduction  strategy,  every  one  of the Company’s staff  members  and contractors have agreed to accept LWP shares in lieu of cash payments. Further to this, the Directors of LWP have also stated their intention to accept shares in lieu of payment, subject to ratification by shareholders at the Company’s Annual General Meeting planned for November 2016.

LWP believes that this decision by its Board, staff members and contractors to accept shares in lieu of cash payments will not only significantly reduce cash outflows and enhance its financial flexibility, it also illustrates the confidence that all stakeholders have in the Company and its future prospects."

Absolutely a show of faith in the company...and a massive one at that - I word for an ASX top 10 company but I wouldn't be accepting shares instead of cash.....the employees / contractors must feel 100,000,000% that the value of the companies shares will increase over time to do this. I can't think of a better way to show your faith and put your money where your mouth is then this.

However, given their cash position I'm wondering what they are looking to spend this money on in the short term......that would be more important then wages....so many linewipes of LWPs shares, such a rise on no actual news....something is up!

#3.
"Further, with cash  on  hand,  liquid  equity  investments  and  the  anticipated  payments  from  the Australian Taxation Office in relation to Research and Development tax offsets, LWP believes that the Company is now well funded and with adequate working capital for approximately four years."

Nice. Kinda discredits those red hearts who were saying LWP would be insolvent by years end though...

#4.
"As previously advised, LWP is currently undertaking further testing of its proprietary fly-ash proppant with an independent third party, primarily to determine the lowest manufacturing cost that may be available,  allowing  the  Company  to  compete  with  mined  frac  sand  where  it  has a  transport  and logistics advantage.

This third party testing is also being conducted to provide independent validation of the Company’s product and technology, which will assist LWP to progress its commercialisation and in securing joint ventures and partnerships. LWP  anticipates  that  it  will  receive  the  results  of  this  testing in  the  coming  days  and  will  update shareholders accordingly."

This point deserves much more attention, and i'll start a new thread in a sec to go over it

A good announcement.