LKE received $5.3m instead of $6.5m as per its supplementary prospectus. I have summarised below costing based on original and supplementary prospectus. I see a significant variance in pilot plant and PFS completion costs between the two. This could mean either their original cost was understated or secondary supplementary costs were overstated. In any case, I reckon company will be able to prioritise and get most important activities completed within the next few months.
Early termination of convertible notes $1.46m. 1.46m
Pilot plant development $0.35m $1.6m
Production of samples for off-takers and the completion of the PFS; $0.2m $0.6m
General exploration $0.81m $1.5m
Working capital $0.49m $0.91m
Other costs $0.19m $0.39m
PFS??? Have been waiting for it for a while now.
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