(i) re: What I can't fathom is why anyone would invest a million in a non producing stock that has a Chinese majority in Africa... (sic)" ~ You can start by answering your own question considering you "allegedly" invested $160,000 in Leo Lithium, or was that just a little furphy again? I know why I am invested in LLL, but here is the email for Capital Drilling you can ask them why they own circa 15 million shares. email to [email protected]
~ wrong again, up until the Trading Halt / Suspension, LLL and Ganfeng held equal shares in the JV, when I invested they had equal shares, this percentage of ownership change wasn't announced until the 8.30am (14th Sept) and the changes to the JV didn't take effect until all the equity funds were completed.
(ii) re: "(sic) .... and not have the courage to contact management and put some pressure on"
~ wrong, and just choosing to ignore posters that have communicated/posted that they had been in contact with management.
(iii) re: "like I said, IF there are ongoing discrete communications happening that are confidential than that's fine however the reason for the discussions is not confidential and no one really knows why they have been in suspension for 6 months"
~ do you actually read announcements as to why we are in suspension?
First Trading Halt/Suspension - in relation to correspondence from the Government of Mali relating to plans to produce Direct Shipping Ore. Reinstated to quotation on announcement - Goulamina on schedule post discussions with Mali Government, with bullet points; ~ DSO Suspended ~ Suspension of DSO does not delay any aspect of the project ~ First spodumene concentrate production remains on schedule for Q2, 2024 ~ Discussions with the Government of Mali continue on a range of matters, including the Government's free carry stake in, and the overall progress of Goulamina ~ continued strong support from Strategic Partner Ganfeng with Cooperation Agreement signed https://announcements.asx.com.au/asxpdf/20230904/pdf/05th0x499tnqd6.pdf
Second Trading Halt / Suspension - In relation to correspondence from the Government of Mali The Company requested a further extension but was rejected by the ASX and the suspension shifted to be "not at the request of the entity." It will be futile to go into any details of why I think the Company were within the limbs of the ASX listing rules to not disclose information to the ASX.
To keep it simple, the ongoing discussions are, in no particular order and from how I interpreted announcements, emails and phone calls.
~ Power permit, as per the last announcement this has been now shifted back to being under review ~ Taxes, estimated to be US$20m at end of September quarter, noted that @Ynwa001 highlighted that at early March an addition US$3m (total US$23m) ~ Settlement (what ever that is for) ~ Mining Code ~ Government's free carry stake ~ All other outstanding permits that are normal for a greenfield mine, some of which won't be issued until the 11th hour ~ community engagement progressing ~ 1500 Malians employed either directly or indirectly ~ Corica commissioned the first of the long term Caterpillar fleet ~ on budget ~ on schedule, 30 Sept 45%, 31 Dec 60%, 22 March 80% ~ the New Local Content rules are starting to have an impact
FYI - I like many other lodged enquiries with the ASX, predominately for the reasoning behind the in and out and back in trading halts. Although I received information back from the ASX, it wasn't overly informative, basically suggesting that the reason for the initial Trading Halt had been satisfied, and further correspondence and complexities was the reason for the 2nd Trading halt. Which was pretty much at what Leo Lithium inferred in email correspondence and phone calls I had with them.
(20min delay)