Ann: Galan Completes Strongly Supported A$31.5 million Placement, page-46

I understand the frustration. I am personally very happy with the progress, it all adds up and serves our goal of reducing time to market (avoiding wasting time, avoid too much dilution etc.):

1) we keep control and focus on time to market (we have the $$ to basically start construction of the 4ktpa plant: "Purchase of long lead items in preparation for stage 1 (4ktpa LCE) including; liners, piping and lime plant)". the earlier we fill these ponds the better! DFS 2 is not so urgent!

2) we can take our time and negotiate additional funding for the 4ptpa plant (while starting construction/purchase).

3) we will revise the stage 2 DFS - also with the input of our new board members - this will cost a bit, no problem with that. going into production and becoming a massive player is not a piece of cake - we need to get this 100% right! we are building a serious business here - the same size in terms of annual LCE production as Livent in 2020 (60 ktpa).http://livent2018ipo.q4web.com/overview/default.aspx Do people think this happen over night? without any revisions/delays?

4) even if the SP goes down - doesn't matter long term - particularly if we pay 1$ dividend in a few years as hypothesized by Terry Gardiner in one of his tweets. again, important that we don't waste time and ramp up production quickly - to take advantage of the Li price and to fund more ponds.

I am actually more concerned about our political context. This year we will have presidential elections, and you never know. Also not 100% clear to me how government reacts to our plan of first avoiding building and running a carbonate plant (less jobs etc). To me this is the biggest uncertainty here - just look a Chile.

GLTAH!